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Are markets pricing in the potential of a default?

Goldman Sachs The Markets

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The Dollar's Reserve Currency Status in the Event of a Missed Payment

Candice, how would the market react to a missed debt payment? What's the likelihood? Candice: The default is not our base case. I think we get to a short-term agreement that takes us to the fiscal year end and that allows for some more time. But overall, the impact is really hard to predict because in the worst case scenario, a lot of different things can happen.

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