The Impending Debt Ceiling Crisis: Wall Street and Congress at Odds.

The US government is approaching the day when it runs out of cash to pay its bills, but the stock market is showing no signs of panic. Investors face a binary choice: either lawmakers make a last-minute deal to raise the country’s borrowing limit, or the nation reneges on its obligations, with potentially catastrophic consequences that are difficult for investors to comprehend, much less reflect in stock prices. The precise day when the government would run out of cash, known as the X-date, is unknown, which also complicates trading decisions for investors. However, outside of the stock market, there are signs of caution creeping in among investors in some markets, with investors backing away from owning government debt that expires around the time the government is expected to run out of money.