Goldman Sachs Economists' Forecast: Treasury Cash Levels To Dip Below Minimum Level By This Date
Portfolio Pulse from Bhavik Nair
Goldman Sachs economists predict that the Treasury Department's cash levels will drop below the $30 billion minimum by June 8 or 9, increasing uncertainty in financial markets. President Joe Biden and House Speaker Kevin McCarthy are set to discuss the debt ceiling on Monday.
May 22, 2023 | 3:09 am
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NEGATIVE IMPACT
The Invesco QQQ Trust Series 1 (QQQ) lost 0.23% on Friday due to concerns over the Treasury's cash levels and upcoming debt ceiling discussions.
The Invesco QQQ Trust Series 1 (QQQ) is likely to be negatively impacted in the short term due to the uncertainty surrounding the Treasury's cash levels and the upcoming debt ceiling discussions between President Biden and House Speaker McCarthy. The ETF lost 0.23% on Friday, indicating a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) closed 0.15% lower on Friday amid uncertainty surrounding the Treasury's cash levels and debt ceiling discussions.
The uncertainty surrounding the Treasury's cash levels and the upcoming debt ceiling discussions between President Biden and House Speaker McCarthy are likely to impact the stock market, including the SPDR S&P 500 ETF Trust (SPY). The ETF closed 0.15% lower on Friday, indicating a negative short-term impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50