Debt Ceiling Crisis: Biden, McCarthy Set To Meet On Monday
Portfolio Pulse from Bhavik Nair
President Joe Biden and House Speaker Kevin McCarthy are set to meet on Monday to discuss the debt ceiling, following a productive phone call. Financial markets are getting jittery as the inconclusive talks approach the X-date in early June when the Treasury Department is expected to run out of cash.
May 22, 2023 | 1:52 am
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NEGATIVE IMPACT
The iShares 1-3 Year Treasury Bond ETF (SHY) closed 0.07% lower on Friday amid debt ceiling talks and market jitters.
As the debt ceiling talks continue and uncertainty grows, investors may become more risk-averse, leading to a negative impact on the price of short-term Treasury bond ETFs like SHY. The ETF closed 0.07% lower on Friday, indicating that the market is already reacting to the ongoing discussions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Vanguard Short-Term Treasury Index Fund ETF (VGSH) closed 0.05% lower on Friday due to debt ceiling talks and market concerns.
The ongoing debt ceiling talks and growing uncertainty are causing investors to become more risk-averse, which negatively impacts the price of short-term Treasury bond ETFs like VGSH. The ETF closed 0.05% lower on Friday, showing that the market is already reacting to the ongoing discussions.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80