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The Debt Ceiling Drama is Approaching
The Macro Trading Floor
The Fed's Debt Ceiling and the US Dollar
We're in within four weeks of the ultimate showdown on the debt ceiling, causing a lot of negative headlines for the US dollar. Once the debt ceiling is signed, we know that the US treasury will swiftly bring the treasury general account back to what $600 billion. The FDIC now removes liquidity as well, while repaying emergency loans on behalf of banks under receivership. So we have a trio of agents or authorities all removing liquidity at the same time from three weeks from now and on. To me, that's a positive dollar story, because you remove an obstacle, which is the debt ceiling,. You get followed liquidity withdrawals from all major agents at the sameTime.
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