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Asian markets mixed as U.S. government debt talks push toward brink of default

5 Comments
By ELAINE KURTENBACH

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5 Comments
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Why worry they will share in the upcoming misery,when bank lose the ability to sell their bond to Treasury Repo Market and people start a run on their banks, because of lack funds from the Government ,that have to withdraw saving to stay liquid

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U.S. futures and crude oil prices also rose. President Joe Biden and House Speaker Kevin McCarthy had narrowed down a two-year budget deal that could lift the vote to lift the country's debt ceiling. Biden and McCarthy have expressed that they can bridge the gap between their positions. The two-year contract will be raised. In exchange for raising the legal debt limit, Republicans have demanded spending cuts that Democrats oppose.One comment said that banks have lost the ability to sell bonds on the government bond repo market and that people are running on banks because of the lack of money from the government. I wondered why they should be worried about sharing their misery ahead when they have to draw down savings to maintain liquidity.

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Kaw,if people started causing bank to fail, something will be done immediately, Biden should immediately go on TV and let American know the consequences,banks become insolvent,and an infusion of cash overnight from the government is the only make them liquid again

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Just scrap that stupid debt ceiling legislation.

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