Us Default

White House reaches a deal with Republicans to avert US default

The deal would avert an economically destabilising default, so long as they succeed in passing it through the narrowly divided Congress before the Treasury Department runs short of money to cover all its obligations

US default scenarios span from localized pain to dimon’s ‘panic’

With the clock ticking to June 1, the date by when Treasury Secretary Janet Yellen has advised her department may run out of sufficient cash, as of Monday there was still no deal announced between President Joe Biden and Speaker Kevin McCarthy on raising the federal debt ceiling.

US default on debt would trigger 'economic catastrophe,' Janet Yellen says

Janet Yellen, in remarks prepared for a Washington event with business executives from California, said a default on U.S. debt would result in job losses, while driving household payments on mortgages, auto loans and credit cards higher.

How will gold respond if debt deadline is breached?

While prices would spike higher in the short-term if the deadline on October 17 is breached, analysts don`t expect a prolonged rally in the safe-haven metal.

US default? Asian policymakers ready $6trn forex safety net

From South Korea to Pakistan, Asia's central banks are estimated to have amassed some USD 5.7 trillion in foreign exchange reserves excluding safe-haven Japan, much of it during the last five years of rapid money printing by the US Federal Reserve.

Obama rejects Republican plan on debt ceiling: NY Times

The report came after a group of House Republican leaders met with Obama at the White House.

Gold drops on stronger dollar, hopes of US breakthrough

House Republican leaders will visit the White House on Thursday as efforts intensify to break the impasse that has left parts of the US government shuttered for more than a week.

What default? Republicans downplay impact of US debt limit

The government could muddle through without a debt-ceiling increase as long as it kept up with interest payments and a few other priorities, Republicans argue.

Brent slips below $109, demand concerns linger

Tropical Storm Karen had prompted producers to shut in nearly two-thirds of oil output in the Gulf of Mexico. But it was downgraded to a tropical depression late on Saturday, with production starting to return to normal by the end of the weekend.

It was our duty to downgrade the US, says S&P

The top official behind Standard & Poor's historic decision on Friday to downgrade the United States' prized triple-A credit rating said it was his company's duty to make such a hard and controversial call.

US debt crisis moves to Senate, still deadlocked

Democrats offered a concession on Friday seeking to forge a last-ditch compromise with Republicans to avoid a crippling US default, but a bitter divide remained before Tuesday's deadline to raise the country's debt ceiling.

US debt crisis sends first waves through Wall Street

President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming US default and credit downgrade.

US debt standoff makes investors sell stocks, buy gold

Stocks fell while the Swiss franc rose and gold hit a record high on Monday as hopes for a political deal to avert a US default began to fade, though investors were mostly seeking to protect their portfolios with no signs of market panic.

RBI's policy should fit local shoe, not global: StanChart

As the Indian markets this week too were domination by the global trends, despite the industrial output data for May and inflation numbers for June coming in on the home front, Gerard Lyons, economist at Standard Chartered Bank holds that RBI needs to "set a monetary policy that suits best to the domestic needs."