In a late-night session on Wednesday, the House of Representatives passed a critical bill designed to raise the United States’ debt ceiling for more than two years. This move grants the Senate just a few days to act before the nation potentially defaults on its financial obligations. The legislation received mixed support from both Democrats…
Bond market traders are increasingly skeptical that the Federal Reserve will alleviate tightening monetary policy with rate cuts this year. The change in sentiment, which last week pushed the likelihood of a quarter-point rate hike in the coming month to a peak of 40%, is set to confront a wave of data in the upcoming…
The dollar gained strength on Wednesday as investors sought its safe-haven status amidst concerns over a potential U.S. debt default. Additionally, traders adjusted their expectations of an imminent interest rate cut by the Federal Reserve following encouraging U.S. consumer spending data. Negotiations between U.S. President Joe Biden and Republican congressman Kevin McCarthy inched closer to…