US Debt Deal Boosts Asian Stocks Amid Lingering Risks
TL;DR
Asian stocks rose on Tuesday as investors welcomed the US debt deal, which suspended the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs. However, investors say markets are not out of the woods yet, as there is still a huge disconnect between bond markets and equities. Longer-dated US Treasuries rallied on Tuesday as bond traders welcomed the deal to suspend Washington's borrowing limit. The deal now heads to Congress for approval, and JB Were analysts said there could be up to $600 billion worth of bill issuance in the next six to eight weeks.
Topics:businessfinance#asian-stocks#bond-market#finance#global-economy#government-spending#us-debt-deal
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