Debt ceiling fears drive up insurance costs and spark debate in Congress.
TL;DR
The cost of insuring against a US default has risen as investors grow increasingly concerned about the possibility of a government debt default. The US Treasury has warned that it will run out of cash to pay its bills by October unless Congress raises the debt ceiling. The market for insurance against a US default has surged, with the cost of five-year credit default swaps rising to their highest level since March.
- Cost of insuring against US default climbs on debt ceiling fears Financial Times
- The Debt Ceiling Debate Is About More Than Debt Yahoo! Voices
- How the White House sees its debt ceiling standoff with McCarthy POLITICO
- Congress should abolish the debt ceiling The Boston Globe
- Congress can raise debt ceiling, save social security | Opinion Deseret News
Want the full story? Read the original reporting
Read on Financial Times