The recovery rally in stocks in October was a direct result of Treasury paydowns, which was a temporary effect. That has been reversed as the debt ceiling was raised and the Treasury returned to the market with a vengeance, pounding it with $310 billion in net new supply since the end of October. Show More Summary
As we return to regular weekly reporting, the Treasury’s schedule has returned to something resembling normalcy. The huge post debt ceiling deal supply surge is in the process of being put to bed. The week ahead should be the last where supply is way above normal. Show More Summary
Now that Congress has agreed to an overall budget for the next two years and raised the debt ceiling until 2017, and the U.S. House of Representatives has a new speaker in U.S. Rep. Paul Ryan, the early conventional wisdom is that Washington has finally and mercifully turned the corner on governing by crisis. Show More Summary
The debt ceiling deal has been done and in the last week the Treasury came to market with massive new Cash Management Bills, big increases in the 4 week bill auction sizes, and moderate increases in other bills, notes and bonds. All of this began to pressure the Treasury market immediately. Show More Summary
Worlds Largest Debtor Ever Raises U.S. 'Debt Ceiling'...Again The US government has once again agreed to increase it’s so-called debt “ceiling” – this time from $18.5 trillion to $20 trillion. The so-called debt ceiling is recognized industry-wide as a complete misnomer. Show More Summary
The House of Representatives and Senate passed a budget agreement that raised the debt ceiling this week and paved the way for a spending bill to keep the government funded. The deal has implications for retirees and retirement planning thanks to provisions affecting Medicare premiums and Social Security strategies. Digging into [...]
The US would face imminent economic disaster in case if the US national debt limit wasn’t raised from 18 trillion dollars to 20 trillion in the recently adopted two-year budget deal, the head of a nonpartisan foundation told Radio Sputnik.
From the November 4 edition of Fox News' Fox & Friends: DOOCY: Senator, they suspended the debt limit until March of 2017, past the election. Doesn't that mean, for the most part, it's just an open checkbook -- as much as they want to spend, they can spend? MIKE LEE: Yeah, that's right. Show More Summary
Funny thing about that budget and debt ceiling agreement that supposedly removed the threat of a government shutdown for two years: It did no such thing. It didn’t even remove it for two months. The Bipartisan Budget Act of 2015 “should...Show More Summary
WASHINGTON -- President Barack Obama on Monday signed a budget deal that sets government spending levels and raises the debt ceiling until well after he leaves office. In theory, his signature should bring to an end to the high-drama standoffs that have characterized the Obama years since Republicans took control of the House in 2010. Show More Summary
Well, it’s a done deal. Obama has signed off on the two-year budget agreement, which raises the debt ceiling until Mach of 2017 (via ABC...
US President Barack Obama has signed the new budget bill that will raise the US debt ceiling and avert the country's default, according to a press release issued by the White House on Monday.
The House of Representatives just voted to approve a budget deal to raise the U.S. debt ceiling. And buried in this last-minute accord designed to save us from another government shutdown is a provision to sell oil from the Strategic...Show More Summary
by Barkley Rosser (Econospeak) VSPs Get Their Way With Budget Deal: Social Security Benefits Are Cut All the Very Serious People are jumping up and down and cheering. We have a budget deal in the House and the debt ceiling is being raised and there will be no more artificial budget crises until […]
The Senate stayed up late to pass the budget and debt ceiling deal, a last minute bit of campaigning from Sen. Rand Paul (R-KY) notwithstanding. Paul's promised filibuster was a flop, and the bill passed but with substantial Republican opposition. Thirty-five Republicans opposed the deal, including Sens. Show More Summary
Thank goodness the Republican House approved a budget compromise that lifted the debt ceiling for 2 years, and ignored the Republican Presidential debates. It was a compromise because Democrats were needed to get approval in both houses of Congress. Show More Summary
The budget and debt ceiling deal working its way through Congress will prevent a debt ceiling crisis and take a key hostage away from Republicans. But what it doesn't do is continue funding the government past December 11, when the current spending authorization expires. Show More Summary
The problem we have been anticipating is here. The debt ceiling deal is done and the Treasury is clawing back the $140 billion it had poured into dealer and investor accounts since mid September. That cash reversed the normal October supply/demand balance. Show More Summary
Sen. Rand Paul may have vowed to filibuster the debt ceiling deal prior to the GOP debate on Wednesday in Boulder, Colorado, but that’s become a...
Robert Litan: The debt ceiling was a product of compromise, a notion that has become the object of scorn of some in both parties.