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What’s at stake for markets as U.S. debt ceiling looms

Published by
Reuters

(Adds “U.S.” in headline) By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. debt ceiling comes into effect at the end of July, putting pressure on the Treasury to reduce its cash balance ahead of the deadline. That means more injections of cash into a financial system already awash with liquidity, a scenario that could further sink short-term rates and cause undue distortion in the overnight repurchase market. WHAT IS THE DEBT CEILING? The debt ceiling is the maximum amount the U.S. government can borrow, as directed by Congress, to meet its financial obligations. When the ceiling is r…

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