The Fed's Tightening Cycle and the Debt Ceiling Story

In 2011 there was a number of moving parts and in 2023 we've also got the Fed to think about presumably nearer at the peak of its tightening cycle. So there's a lot of elements that bond markets and by extension currency markets have to digest. It doesn't really lend itself to this need kind of well in 2011 we had this impact and therefore we could anticipate an identical reaction function in 2023. Sadly that's not quite a aspect how it plays out.