Tag Archives: debt

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, December 3, 2021 Like Freddie, Jason and John McClain, the U.S. debt fight just won’t die The Omicron variant and inflation worries are spooking markets. And as if investors aren’t preoccupied by enough, the nation’s leaders are bickering over debt and spending — well, and just about everything else, to be honest — in ways that could… Source link

(Bloomberg) — Plans for a $1 billion Bitcoin bond in El Salvador sent the nation’s dollar-denominated bonds to an all-time low. Most Read from Bloomberg El Salvador’s dollar denominated notes due in 2050 slumped to 63.4 cents on the U.S. dollar on Tuesday, the lowest on record. The Central American country’s debt has been among the world’s worst performers so far this week as investors consider whether President Nayib Bukele’s plan to sell sovereign Bitcoin bonds closes the door on… Source link

The Education Department rolled out a series of major changes to the troubled Public Service Loan Forgiveness (PSLF) program for student loan borrowers in public service in October, and the level of debt cancellation is topping even the government’s estimates. According to a tweet by Education Secretary Miguel Cardona on Thursday, roughly 10,000 borrowers who were on PSLF have already had $715 million erased because of the change in policy and another 20,000 will be notified in the “coming… Source link

(Bloomberg) — China’s indebted developers are struggling to meet Beijing’s tighter financing rules. Most Read from Bloomberg Two-thirds of the top 30 Chinese property firms by sales ranked by the China Real Estate Info Corp. have breached at least one of the metrics known as the “three red lines,” Bloomberg-compiled data showed as of Oct. 29. Developers are facing rising financial stress as stricter rules around borrowing and a deleveraging campaign by authorities weigh on the sector…. Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, October 8, 2021 Keep it or scrap it, Washington should stop playing chicken with the markets “…Goodness knows what the end will be; Oh, I don’t know where I’m at; It looks as if we two will never be one; Something must be done… Let’s call the whole thing off!” That old classic song, sung alternately by Fred Astaire, Billie Holiday, Ella… Source link

Sen. Mike Braun (R., Ind.) told Yahoo Finance that JPMorgan Chase CEO Jamie Dimon is “condoning a broken system” by suggesting eliminating the debt ceiling. Dimon told President Biden on Wednesday that he thinks the U.S. should “get rid” of the debt ceiling, arguing “we don’t need to have this kind of brinksmanship every couple of years.” “Jamie wouldn’t say that for his own business,” said Braun. “His board of directors would get rid of him.”  Senate leaders came to an agreement on Thursday… Source link

Stock futures opened slightly higher Wednesday after a choppy trading session, with investors closely monitoring developments in Congress as lawmakers raced to come to an agreement to avert a government default by mid-month.  During the regular trading day, the three major equity averages had shaken off earlier losses after Senate Minority Leader Mitch McConnell offered Democratic lawmakers a deal to temporarily extend the government borrowing limit into December. Such a move would offer… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, October 6, 2021 It’s true: We are ‘in trouble no matter what’ We’ve now entered the phase of the (perpetually) tortured debate over the debt ceiling that invokes apocalyptic economic imagery, namely “recession” and “default.” With just under two weeks to go before the pivotal Oct. 18 deadline, Treasury Secretary Janet Yellen… Source link

Former President Donald Trump says the country has a debt problem and that the ongoing debt ceiling fight can be “a very strong card to play [where Republicans] can get a lot of what they want.” In an exclusive interview with Yahoo Finance, Trump said the prospect of a government default, which could plunge the country into a recession, can and should be a Republican lever to stop the Democratic spending efforts, including the multitrillion-dollar package of social spending currently being… Source link

The United States Congress has a deadline on paying its bills: October 18, 2021. Secretary of the Treasury Janet Yellen said that if Congress does not raise the debt ceiling, the Treasury will run out of emergency funds to pay U.S. debt holders by that date. “Failing to increase the debt limit would have catastrophic economic consequences,” Yellen told the Senate Banking Committee on Tuesday. In August, a statutory limit on federal debt — called the debt ceiling — was reinstated,… Source link