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The announcement by Barack Obama that a deal had been reached to increase the US debt ceiling late on Sunday night did not put to rest lingering questions about whether the agreement would overcome the most difficult remaining hurdle: passage of the legislation in the House of Representatives. The FT reports.
If the rest of the country thinks that Washington has gone mad this summer, that is pretty much the view in this bewildered capital, too. The New York Times reports.
The outcome and consequences of Washington's deficit-reduction efforts are as yet unknown, but what is clear is the heavy calendar of economic reports in the week ahead will have consequences of its own.
The House and the Senate are ready to rumble over debt plans. Here's how to trade the uncertainty.
The U.S. Treasury plans to hold auctions Monday for slightly more than $50 billion in 3- and 6-month bills, officials told primary dealers in New York Friday.
The week's top business news and investment advice, including debt bets and commodities plays.
In tough times, governments, just like the rest of us, start feeling between the seat cushions and rummaging around the house to see what they can sell for cash. Illinois has its eye on a new revenue stream — your license plate.
With the clock running out on the August 2 deadline to increase the debt ceiling, short-dated Treasury bill yields have gone up "fairly considerably over the course of the last week," Tad Rivelle, CIO for fixed income at TCW, told CNBC Friday.
A warning on Spain dents the euro and Japanese officials want the yen lower, thank you. It's time for your Friday FX Fix.
Navigating America’s fiscal swamp - even if investors don’t fall in - will not be pretty, according to Citi Chief Economist Willem Buiter.
"The world’s financial system could face losses equivalent to that of Lehman’s failure by August 15, and then again on the fifteenth day and the last day of every month until default is rectified,” says one chief economist.
If all goes according to plan, the city of Vallejo will emerge from a three-year bankruptcy.
The U.S. is "not a triple-A credit" and is running a "fiscal doomsday machine," David Stockman, former federal budget director under President Reagan, told CNBC Thursday.
There are a lot of great real estate bargains on the market right now but this one takes the cake — You can buy an entire town for $799,000.
New Jersey Gov. Chris Christie is undergoing tests at a hospital after he had difficulty breathing.
The current political turmoil may put technical levels for stocks at risk, Philippe Gijsels, the head of research at BNP Paribas Fortis Global Markets in Brussels, told CNBC.com in an interview Thursday.
The nation's health care tab is on track to hit $4.6 trillion in 2020, accounting for about $1 of every $5 in the economy, government number crunchers estimate in a report out Thursday.
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In the very unlikely event that the United States defaults on its debt obligations, the country's economy would contract by 5 percent and stocks would fall by nearly a third, according to Credit Suisse.
When "the dollar is the reserve currency underpinning the system, waking up to discover that U.S. debt may not be AAA after all is surely a market event,” says an analyst at one European bank.