U.S. Treasury's Yellen Says U.S. Could Default As Early As June 5 Without Debt Ceiling Hike; Previous Date Was June 1
Portfolio Pulse from Happy Mohamed
U.S. Treasury Secretary Janet Yellen warns that the U.S. could default on its debt as early as June 5 without a debt ceiling hike, moving the previous date from June 1.
May 26, 2023 | 8:20 pm
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NEGATIVE IMPACT
The potential U.S. default on its debt by June 5 without a debt ceiling hike could negatively impact the SPY ETF in the short term.
A U.S. default on its debt could lead to increased market volatility and uncertainty, which would likely negatively impact the SPY ETF, as it tracks the performance of the S&P 500 Index. The ETF could experience short-term declines due to the potential default.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80