Debt ceiling hijinks just got riskier Bond Markets HEAD TOPICS
Debt ceiling hijinks just got riskier
10/21/2022 4:14:00 PM U K chaos shows how today' s market conditions could mean more explosive results than the last standoff
Bond Markets
Source Axios
The defenestration of Liz Truss suggests that the risks of an American debt-ceiling standoff could be higher than when such tactics were last deployed. U.K. chaos shows how today's market conditions could mean more explosive results than the last standoff. Why it matters:Midterm elections in the U.S. could put Republicans in control of the House of Representatives. This raises the specter of a replay of the debt-ceiling brinkmanship that broke out roughly a decade ago.But as the Truss debacle shows, today's market conditions could make for a more explosive result. Driving the news:Truss' resignation Thursday came just weeks after her first fiscal plan provoked violent swings in the prices of British bonds and the pound.Context:The Truss government badly misjudged the market backdrop, against which it unveiled plans for larger-than-expected tax cuts, which implied larger budget deficits to come. Read more:
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Shares plummeted 25% in premarket trading after Snapchat’s parent company said it was operating on an assumption there would be no revenue growth in the current quarter. Read more >> ‘The Crown’ Season 5 Trailer Shows Monarchy in Chaos Amid Netflix CriticismThe acclaimed British royal family drama is back with a foreboding penultimate season trailer amid plenty of controversy. I don't watch the show, but seriously how do they hide the fact that Debicki is 6'3' 😂 'Fire Country,' 'East New York' and 'So Help Me Todd' Receive Full Season Orders at CBSAll three shows are also among the most-watched freshman shows across the major broadcasting networks. U.K. Home Secretary Exits Amid Government ChaosIn her resignation letter, Suella Braverman said she’d violated the rules by sending an official document from her personal email to a colleague “as part of policy engagement.” I'd cop to stealing paper clips from the office if it got me out of the Truss-wreck without burning any bridges. 'A city of chaos': Cotopaxi closes only SF store after repeated break-insCotopaxi, a popular active wear brand is shutting down its only San Francisco store because of repeated break-ins. Chaos as fire engulfs 73 cars at pumpkin patch's parking lot'It just felt like it was never going to end,' said Helen Robinson, who owns the farm together with her husband. Smoking is not just bad for your health, it's bad for the environment. This never happened under the Trump administration other than 2020 because the Democrats were doing communist fascist tactics Kathryn Hahn Says 'Agatha: Coven of Chaos' Will Begin Filming Next MonthKathryn Hahn says filming for AgathaCovenOfChaos will begin 'next month.' Why 🤦 suggests that the risks of an American debt-ceiling standoff could be higher than when such tactics were last deployed.‘s fifth season, which shows the monarchy in chaos and foreshadows the fate of Princess Diana.CBS has rewarded its top three most-watched new shows of the year with full-season orders.12:59PM ET Wiktor Szymanowicz/Getty Britain’s home secretary has resigned in a continued restructuring of the country’s top cabinet. Why it matters: Midterm elections in the U.S. While Diana ( now played by Elizabeth Debicki ) intones, “People will never understand how it’s really been for me, I never stood a chance,” amid shots of the Princess of Wales speeding recklessly in a car and laying inert in a pool. could put Republicans in control of the House of Representatives. Of the trio, Fire Country racked up the highest numbers drawing an audience of 8. This raises the specter of a replay of the debt-ceiling brinkmanship that broke out roughly a decade ago. Related Stories. But as the Truss debacle shows, today's market conditions could make for a more explosive result.” Truss’ schedule has been overwhelmed recently with a slapdash attempt to drastically restructure top secretary seats as she faces fire for a failed economic strategy that pushed U. Driving the news: Truss' resignation Thursday came just weeks after her first fiscal plan provoked violent swings in the prices of British bonds and the pound. Additionally, the show also crushed streaming numbers set by 2018's Magnum P. Context: The Truss government badly misjudged the market backdrop, against which it unveiled plans for larger-than-expected tax cuts, which implied larger budget deficits to come. For much of the last two decades, super-low inflation and the calming influence of central bank bond-buying programs kept markets relatively sedate, despite growing budget deficits. Yes, but: Inflation has changed all that. Following closely is East New York averaging 7. Instead of buying bonds to keep rates low, central banks are reducing their holdings to push rates higher.. That leaves market players on the hook to buy billions of dollars of additional government debt each month. If they're reluctant to do so, it results in higher yields and more violent market moves. Coming in at third place is So Help Me Todd which had the earliest premiere date of the three on September 29 and scores an average of 6. This is especially true in the U.S, where the Federal Reserve's quantitative tightening program means that the central bank is and onto the portfolios of investors every month. That's one reason the U. COLLIDER VIDEO OF THE DAY “CBS is off to a tremendous start this season," said Kelly Kahl, President of CBS Entertainment in a statement. S. Treasury market is far jumpier .