Zoomshare   
mikemstuff.com

Talk



Thu, 29 Aug 2013
Debt Ceiling October
The debt ceiling should draw greater attention after Labor Day, potentially offering a source of support for haven Treasurys if Congress doesn't quickly act to increase the US's borrowing limit. Goldman Sachs sees the US with a little under $50B cash on hand in mid-October, when it exhausts its borrowing capacity. Without the ability to borrow more, that could interrupt the Treasury's regularly scheduled bi-weekly auctions, specifically the 3-, 10- and 30-year bonds to go on sale in the Oct. 6 week. Goldman warns "the Treasury might not be able to conduct those auctions as planned without a high degree of confidence that the limit would be raised by the time the securities settle on October 15."
Posted 08:37

No comments


Post a Comment: