Income-focused investors seeking yield and safety in Treasury bills are likely nervous as debt ceiling rhetoric heats up in Washington, but they should take a breather before they dump these assets. In the short-term Treasury market, investors are already showing some signs of anxiety. In that case, holders of short-term T-bills could see declines in their portfolio values as yields spike, he added. Review your holdings Now could be a good time to review your bond holdings, particularly the short-term T-bills that are seeing a big jump in yields. But the longer-term advice is to snap up longer-dated bonds to prepare for the day the Federal Reserve starts to dial back its tight monetary policy.

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Persons: Joe Biden, Biden, Kevin McCarthy, Hakeem Jeffries, Janet Yellen, Yellen, Kathy Jones, Gustavo Schwenkler, Jones, Thomas McLoughlin, McLoughlin, Christine Benz, Jamie Hopkins, — CNBC's Michael Bloom Organizations: Treasury, Schwab Center, Financial Research, Santa Clara University Leavey School of Business, Federal Reserve, UBS, Morningstar, Carson Group Locations: Washington, D, U.S