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The Debt Ceiling Drama is Approaching
The Macro Trading Floor
The Negative Effects of the Debt Ceiling on Global Liquidity
The resolution of the debt ceiling is actually negative for global liquidity. The government effectively will be replenishing their account at the Federal Reserve. It's much easier for money market funds for asset manager, corporate treasurers to buy T-bills. But if they need to buy 500 billion of third-year bonds then I can guarantee it takes a lot more risk budget and appetite for risk.
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