Debt Ceiling Deal: Mapping The Key Steps To 'Fiscal Responsibility Act' Approval
Portfolio Pulse from Piero Cingari
President Biden and House Speaker McCarthy reached a preliminary agreement on the 'Fiscal Responsibility Act,' suspending the debt limit until 2025 and limiting discretionary spending for two years. The 1-month T-Bill yield dropped over 40 basis points to 5.3%, reflecting investor confidence in the debt ceiling package. The SPDR Bloomberg 1-3 Month T-Bill ETF (NYSE:BIL) tracks short-term U.S. T-Bills.
May 30, 2023 | 4:11 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The 'Fiscal Responsibility Act' agreement has led to a drop in the 1-month T-Bill yield, indicating investor confidence in the debt ceiling package. BIL, which tracks short-term U.S. T-Bills, may see increased interest as a result.
The preliminary agreement on the 'Fiscal Responsibility Act' has led to a drop in the 1-month T-Bill yield, reflecting investor confidence in the debt ceiling package. As BIL tracks short-term U.S. T-Bills, it is likely to see increased interest and a positive short-term impact on its price due to the agreement and the resulting investor confidence.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80