Adeyemo Said With No Authorization From Congress, Treasury Will Be Forced To Default On Bills
Portfolio Pulse from Charles Gross
The US Treasury may be forced to default on bills due to lack of authorization from Congress, according to Adeyemo. This could have significant implications for the US economy and financial markets.
May 26, 2023 | 11:42 am
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NEGATIVE IMPACT
A potential US Treasury default could negatively impact the broader market, including the SPDR S&P 500 ETF (SPY), as investors may react to increased uncertainty and risk.
A US Treasury default would signal a significant issue with the country's financial stability, leading to increased uncertainty and risk in the market. This could cause investors to sell off assets, including SPY, as they seek safer investments. The negative sentiment could drive down the price of SPY in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75