Debt ceiling soon solved? Careful what you wish for...

Link to slide deck: https://bit.ly/3pWMzGU   -

Today is the second of our Saxo Market Call Listeners' Editions, prefaced with a brief market wrap from yesterday, which produced a strong rally extension in the US equity markets, supposedly on hopes that a debt ceiling deal is near, but also on benign economic data. With treasury yields also on the rise, it felt like the market expressing a belief in an improving economic outlook. On the debt ceiling issue, we caution that a solution could lead to a severe liquidity crunch as the US treasury rebuilds its reserves. The bulk of today's podcast is a look at listener questions from our survey last week. Stay tuned early next week for the next Saxo Market Call listener survey. Today's pod features Peter Garnry on equities and John J. Hardy hosting and on FX.

Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here.

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Intro and outro music by AShamaluevMusic