Caution with the debt ceiling optimism! | MarketTalk: What’s up today? | Swissquote
The holiday shortened trading week starts tense but on an optimistic note as US President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement to raise the debt ceiling. The deal must get approval in a congressional vote on Wednesday.
Presently, it feels like investors are confident that the US debt ceiling will be raised. The kneejerk reaction to a debt ceiling deal will be positive but gains could remain short-lived.
The latest economic data suggested last Friday that US inflation didn’t ease as much as analysts expected in April
The data boosted odds that the Fed would...