Biden Reportedly Urges Negotiators to Keep Pursuing Debt-Limit Deal Amid Optimism for Resolution
Portfolio Pulse from Bhavik Nair
President Joe Biden has urged negotiators to continue pursuing a debt-limit deal, expressing confidence that Congress will act in time. U.S. markets ended in the green for the second straight day, with SPY and QQQ gaining. However, bond sales by the Treasury Department may drain liquidity from the banking system and push up short-term borrowing rates, affecting SHY and VGSH.
May 19, 2023 | 5:48 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) gained 1.86% on Thursday as optimism for a debt ceiling resolution continued.
The debt ceiling resolution optimism has led to a positive impact on the stock market, with QQQ gaining 1.86%. Investors are likely to continue buying into the market as the resolution progresses.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 0.96% higher on Thursday as investors remained optimistic about a debt ceiling resolution.
The debt ceiling resolution optimism has led to a positive impact on the stock market, with SPY gaining 0.96%. Investors are likely to continue buying into the market as the resolution progresses.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The iShares 1-3 Year Treasury Bond ETF (SHY) closed 0.18% lower on Thursday as bond sales by the Treasury Department may drain liquidity from the banking system and push up short-term borrowing rates.
The potential drain of liquidity from the banking system and increase in short-term borrowing rates due to bond sales by the Treasury Department may negatively impact SHY, causing it to close 0.18% lower.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The Vanguard Short-Term Treasury Index Fund ETF (VGSH) closed 0.19% lower on Thursday as bond sales by the Treasury Department may drain liquidity from the banking system and push up short-term borrowing rates.
The potential drain of liquidity from the banking system and increase in short-term borrowing rates due to bond sales by the Treasury Department may negatively impact VGSH, causing it to close 0.19% lower.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50