United States Debt Deal
As a result of the expectation that Congress will approve the debt deal, the yield on the US 10-year Treasury note dropped to 3.73% from 3.85% the previous week. In a late-Saturday phone chat, House Speaker McCarthy and President Biden came to a tentative agreement. Federal expenditure will be limited for the following two years, and the debt ceiling will be suspended until January 1, 2025. Before it advances to the Senate, the House will probably vote on it on Wednesday. The 4-week bill fell to below 5.5% as yields on shorter-maturity bonds, which have a larger default risk, continued to tumble from recent highs.
Traders are also anticipating important economic data due this week.
Such as the JOLTS, the ISM Manufacturing PMI, and the payrolls report. All of which will affect interest rates, USD, United States Debt deal and most assets you may be invested in.