Positive news emerged from the US at the 11th-hour, after US lawmakers agreed to raise the debt ceiling to USD 2.4 trillion in two stages, while cutting spending by around USD 2.7 trillion over 10 years. The deal, however, still has to make it through the House of Representatives and the Senate, a challenge US president Barack Obama might face today as they are due to meet to hash out the details.
Christopher Palmer of Henderson Global Investors says what happened over the weekend is good for US equities which are keeping European markets afloat, although not with huge gains.
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