Debt Ceiling May Spook Markets, But Dollar, Bond Markets Tell Different Story

·3 min read
Debt Ceiling May Spook Markets, But Dollar, Bond Markets Tell Different Story

Will the ongoing debt ceiling debate result in the market plunge the bearish market prophets have foretold? Stocks headed lower in intraday trading Friday after the White House postponed a planned follow-up to the debt ceiling discussion between congressional leaders and President Biden that occurred earlier this week. While there hasn't been any publicized change in the hard lines drawn by both Republicans and Democrats, House Speaker Kevin McCarthy quickly clarified to reporters Thursday that Friday's meeting wasn't canceled, but postponed to allow staff members to continue conversations behind-the-scenes before leadership met again.