⚠️🇺🇸#debt #ceiling #us #history #markets #warning
FactSet: the current history of the US debt ceiling resembles the situation in 2011. In 2011, the mid-May period, when the debt ceiling was reached, remained a relatively calm time in the markets, with no sharp movements indicating unrest or fear. The markets were relatively stable because there was sufficient time to reach a deal before the presumed X-date of August 2, 2011, as projected by the US Treasury at that time. (FactSet suggests that this year's actual X-date in the US is also expected to occur in mid-August) The turning point, it seems, came on July 7, 2011, following a meeting of representatives from both parties at the White House. President Obama stated that Republicans and Democrats held diverging opinions on many issues. This, combined with the fact that there was less than a month remaining until the X-date, significantly affected investor nerves, leading to market sell-offs
FactSet: the current history of the US debt ceiling resembles the situation in 2011. In 2011, the mid-May period, when the debt ceiling was reached, remained a relatively calm time in the markets, with no sharp movements indicating unrest or fear. The markets were relatively stable because there was sufficient time to reach a deal before the presumed X-date of August 2, 2011, as projected by the US Treasury at that time. (FactSet suggests that this year's actual X-date in the US is also expected to occur in mid-August) The turning point, it seems, came on July 7, 2011, following a meeting of representatives from both parties at the White House. President Obama stated that Republicans and Democrats held diverging opinions on many issues. This, combined with the fact that there was less than a month remaining until the X-date, significantly affected investor nerves, leading to market sell-offs