Investors Seek Safe Havens as US Debt Default Looms
TL;DR
Continued uncertainty about a debt-ceiling resolution pushed yields on Treasury bills maturing between early and mid-June toward 6%. The Treasury bill market is in a state of dislocation, with yields ranging from as little as 2.924% to as high as 6.141%. Investors and traders are factoring in at least some risk that the government could cross the X-date without a debt-ceiling resolution. The broader financial market appears relatively more confident that a debt-ceiling agreement can be reached by June 1.
- Debt-ceiling angst sends Treasury bill yields toward 6% MarketWatch
- As X-Date Nears, Credit Ratings Firms Hold Steady on US Debt Grade Yahoo Finance
- Debt-Ceiling Fight Sends Investors Hunting for New Havens The Wall Street Journal
- As US teeters on the edge of debt default, why are rating agencies silent? South China Morning Post
- T-Bills Show Wariness About Default Even as Debt Ceiling Talks Progress Yahoo Finance
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