US debt ceiling talks are off and on, but carry on! | MarketTalk: What’s up today? | Swissquote

Show notes

The European stocks were up and the S&P500 hit a fresh high since summer, until Garret Graves, who was negotiating for the Republicans abruptly walked out, calling the White House ‘unreasonable’ and declaring that the discussions are on a pause.
Equities sold off and yields rose.
Happily, US President Joe Biden and House Speaker Kevin McCarthy had a ‘productive’ call Sunday and agreed to resume talks today, to avoid what could be a very damaging US default.
The market mood is sweeter this Monday on news that the US politicians will at least resume talks after Friday’s crisis. They will likely strike a last-minute deal to avoid a catastrophic outcome.
The US 2-year spiked past 4.30% on Friday, the US dollar is down for the second day after a more than 2.50% rebound since the beginning of May.
In Japan, cheap yen and dovish Bank of Japan (BoJ) drives cash to Nikkei 225.
While the rising tensions between China and the West looks less than ideal for a rebound in Chinese stocks.
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