- Dow Jones Futures: Market Rally Retreats Amid Debt-Ceiling Drama; Nvidia Earnings Due | Investor’s Business Daily Investor’s Business Daily
- Stock markets will start to wobble as we approach debt ceiling deadline, says Baird’s Ross Mayfield CNBC Television
- S&P 500 closes 1% lower Tuesday as debt ceiling talks drag on in Washington: Live updates CNBC
- Podcast: Is a debt ceiling deal possible? Reuters
- Escalating US Treasury Yields Reflect Intensifying Uncertainty Over Debt Ceiling Negotiations – iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) Benzinga
- View Full Coverage on Google News
Tag Archives: debtceiling
The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets – Yahoo Finance
- The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets Yahoo Finance
- Treasury to run low on cash by June 8 or 9 unless debt limit raised: Goldman Sachs Fox Business
- Goldman Sachs says the US has an extra 8 days before it runs out of money to pay its bills. That could buy it more time to negotiate the debt ceiling. msnNOW
- Goldman Sachs: Treasury Cash To Dip Below Minimum By June 8-9 – Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY) Benzinga
- US will run out of cash ‘in less than three weeks’ – latest updates The Telegraph
- View Full Coverage on Google News
Stock Market Today: Dow Slips, S&P 500 Edges Up Ahead of Debt-Ceiling Talks – The Wall Street Journal
- Stock Market Today: Dow Slips, S&P 500 Edges Up Ahead of Debt-Ceiling Talks The Wall Street Journal
- S&P 500 is little changed as traders monitor debt ceiling talks: Live updates CNBC
- Debt ceiling debacle: Biden, McCarthy look for deal to avoid default Yahoo Finance
- Debt Ceiling Crisis: Here’s How Traders Are Preparing For Volatility – Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), iShares 1-3 Year Treasury Bond ETF (NASDAQ:SHY), SPDR S&P 500 (ARCA:SPY), Vanguard Short-Term Treasury ETF (NASDAQ: Benzinga
- Market Wrap: Sensex, Nifty Advance Led By Gains In Adani Group Stocks | BQ Prime BQ Prime
- View Full Coverage on Google News
Dow Jones Breaks Support As President Biden Makes This Debt-Ceiling Move; Elon Musk Says Tesla Cybertruck Coming This Year | Investor’s Business Daily – Investor’s Business Daily
- Dow Jones Breaks Support As President Biden Makes This Debt-Ceiling Move; Elon Musk Says Tesla Cybertruck Coming This Year | Investor’s Business Daily Investor’s Business Daily
- Stocks tumble amid debt-ceiling talks, retail sales data release: Stock market news today Yahoo Finance
- Stock market updates: The latest on the debt ceiling, the economy and banking CNN
- Stocks drift lower as US struggles to reach debt deal Bangkok Post
- USD/JPY skids below 136.00 as investors anticipate a pause in Fed’s policy-tightening spell FXStreet
- View Full Coverage on Google News
Federal Reserve’s reverse repo program sees record $1.6 trillion demand on Thursday
As the clock ticked down on the debt-ceiling standoff in Washington, Wall Street firms parked a record $1.605 trillion of cash overnight in the Federal Reserve’s popular reverse repo program.
Congress Thursday afternoon approved a temporary funding measure to extend government spending through Dec. 3, while averting a partial shutdown hours before a midnight deadline, but the federal debt ceiling has yet to be lifted.
See: What happens if the U.S. defaults on its debt?
As the drama played out on Capitol Hill, a total of 92 firms took part in the Fed’s Thursday reverse repo operation. The program, run out of the Federal Reserve Bank of New York, allows banks, government sponsored enterprises and some of the world’s largest investment firms a short-term haven to park cash, while earning 5 basis points overnight.
Earlier in September, the Fed doubled the cap each counterparty can pledge to the overnight facility to $160 billion each. The program has grown in popularity in recent months as trillions worth of fiscal and monetary stimulus course through the U.S. economy and financial markets.
The latest uptick in demand was not unexpected, however, with some Wall Street analysts forecasting in early August the surge, due to the shrinking Treasury-bill market, the typically volatile year-end period and rancor in Washington over government spending.
U.S. stocks sold off sharply Thursday, the last day of September and the quarter, with the Dow Jones Industrial Average
DJIA,
-1.59%
shedding 456 points, or 1.6%, while booking its worst monthly loss since October 2020.