A 90 minute phone call on Saturday. This appears to be the latest act that led to an agreement between President Biden and House Speaker Kevin McCarthy to raise the US debt ceiling by $3.4 trillion.
Debt relief and spending containment. everything okay then? Not yet, because in fact, after the agreement reached between the two leaders, now comes the time for the vote in Congress next week, and there are rumors of many dissatisfied in both rows with the type of agreement obtained by the respective parties.
But time is running out, and we recall that although Treasury Secretary Yellen has postponed the deadline for raising the debt by a few days (from 1 to 5 June) (and thus avoiding catastrophic consequences for the United States and the economic-financial world), there’s very little left now.
Common sense seems to have prevailed among the leaders, where the agreement would represent a sort of “compromise” between the parties in which each has finally given something.
The next steps now: finish writing the bill (McCarthy) today, then talk to Biden again and finally vote on the agreement on Wednesday.
3 more days with bated breath, but the reaction of the markets during the week will be interesting..
I remind you that you can register for free for the next webinar on May 30 “Rotational portfolios: how to build them and how much they yield” by clicking on THIS LINK.
Until next time!
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