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Search resuls for: "Laura Matthews Chibuike Oguh"


2 mentions found


☆ Analysis: Debt deal welcomed by investors, though risks loom
  + stars: | 2023-05-29 | by ( Laura Matthews Chibuike Oguh | Laura Matthews | Chibuike Oguh | ) www.reuters.com   time to read: +5 min
May 28 (Reuters) - Global investors are gaming out how a tentative deal to raise the United States debt ceiling could ripple through markets, as lawmakers strive to pass the agreement through Congress before a June 5 deadline. U.S. five-year credit default swaps narrowed, meaning that the cost of insuring against exposure to a U.S. debt default fell. “The debt ceiling agreement is only the first step in saving the government from the brink of illiquidity.”The deal suspends the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs. U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the debt ceiling by June 5. Optimism that a debt ceiling deal was near and hefty gains in AI-related stocks helped the S&P 500 (.SPX) close at its highest level since August 2022 on Friday.
☆ Analysis: Debt deal could boost unloved corners of US stock market
  + stars: | 2023-05-28 | by ( Laura Matthews Chibuike Oguh | Laura Matthews | Chibuike Oguh | ) www.reuters.com   time to read: +5 min
“The debt ceiling agreement is only the first step in saving the government from the brink of illiquidity.”The deal suspends the debt ceiling until January 2025 in exchange for caps on spending and cuts in government programs. U.S. Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the debt ceiling by June 5. Optimism that a debt ceiling deal was near and hefty gains in AI-related stocks helped the S&P 500 (.SPX) close at its highest level since August 2022 on Friday. S&P Global Ratings stripped the United States of its coveted top rating over a debt ceiling showdown in 2011, a few days after a last-minute agreement the agency at the time said did not stabilize "medium-term debt dynamics." S&P Global Ratings, Fitch and Moody's did not immediately respond to Reuters requests for comment.
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