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Treasury 1 Day from Red Line
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Quick debt ceiling update:
The Treasury is only about 1 day of spending away from Yellen’s red line in the sand of a $50 billion cash balance.
The X-date may even end up being before the 1st week of June.
Given the significant political divide, things are about to get real.
— Brant
Related Posts:
The Debt Ceiling
X-Date could arrive sooner than many expected. The latest figures show the US Treasury’s checking account holding approximately $188 billion while it has been burning through approximately $20 billion dollars per day. That’s potentially less than 10 days of cash remaining.
Update: The Debt Ceiling
Today I saw a fantastic chart published by The Daily Shot (Figure 1). This provides a quick update to my post from a few days ago: "The Debt Ceiling: It's here -- US Treasury cash may run out before June". According to The Daily Shot: “The T-bill market has zeroed in on a June X-date (when the US Treasury runs out of emergency funding).”
Disclaimer: The content provided on the Capital Notes newsletter is for general information purposes only. No information, materials, services, and other content provided in this post constitute solicitation, recommendation, endorsement or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Always perform your own due diligence.
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