Markets may turn turbulent waiting for debt deal The Associated Press
NEW YORK (AP) — If you think the last few days have been tumultuous for markets, just watch as August 2 approaches.
Financial markets have largely ignored the debt limit talks in the U.S. so far. They're reacting instead to concerns about debt in Europe and dismal employment numbers.
But that's bound to change as the U.S. gets closer to maxing out its self-imposed borrowing limit of $14.3 trillion on Aug. 2. Analysts and investors expect Congressional Republicans and President Barack Obama will agree to raise the country's borrowing limit and cut spending before the deadline. Many of those same people also believe the haggling will go on until the last minute.
"If they take it to the brink, it'll be a dangerous game of chicken," said Tony Crescenzi, a market strategist at bond-fund giant Pimco.
Many investors are preparing for a potential default before time runs out.
Then there's the matter of what happens after a deal is reached. The scenarios Wall Street economists have come up with for life after Aug. 2 aren't exactly rosy.
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The Euro Feels the Pain in Spain A warning from Standard & Poor's that it may downgrade Spain's sovereign debt, days after a similar alert on Greece, is a sharp reminder of how serious |
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Bush’s African legacy not worth talking about - Business Daily Africa Bush’s African legacy not worth talking about When he took office, Bush promised to put debt relief for Africa’s poorest and most indebted countries on the international agenda. |
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US DOLLAR: CURRENCIES HIT BY RISK AVERSION Fears about consumer debt and the nation’s finances have compelled Standard and Poor’s to put the country on a negative ratings watch. |
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Bingham: It's not a rough life for pro golfers - Cape Cod Times Bingham: It's not a rough life for pro golfers Wolf Blitzer, operating from inside CNN's Situation Room, informed me, as if I didn't already know, that our country is soon to go $3 trillion in debt. |
US paved way for Israel’s attack
The UN relief agency says at least a quarter were civilians. But that number soared to more than 600 dead on Jan. 6 when Israeli mortars fell in a crowd of
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Debt Directory
IMF Factsheet: Debt Relief Under the Heavily Indebted Poor ...
With information and links.
Ensuring effective debt relief for poor countries:
debt relief for poor countries. This submission is made by following ... are currently involved in litigation against heavily indebted poor countries. ...
This note attempts to link the importance of debt relief with ...
trajectory of debt relief could make for the poorest countries' potential to ... The Heavily Indebted Poor Countries (HIPC) program of debt relief is a critical component ...
Heavily Indebted Poor Countries: Definition from Answers.com
heavily indebted poor country An extremely poor, less economically developed country , with huge external liabilities, whose debt burden is cut to
# 10 Vulture Funds Threaten Poor Nations' Debt Relief ...
10 Vulture Funds Threaten Poor Nations' Debt Relief. Top 25 of 2008 ... policy—in this case debt relief for poor countries.2 According to Congressman John ...
