Mixed Signals.
Despite the best efforts of the whining Congressional arsonists on both sides, the Biden/McCarthy debt deal cruised comfortably through the House of Representatives and the Senate and straight to Biden’s desk for signature yesterday, bringing an end to the whole completely unnecessary psychodrama.
Markets had briefly begun repricing the risk of there still being some kind of US government default, even a self-inflicted very short one, but it soon became clear that, while the burn-it-all-down crew of politicians might soon try to exact some form of internal revenge on their own “ideological…
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