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What, Me Worry? Wall Street Finally Confronts Default Risk  

Friday, Apr 28 2023
News Roundup
Written by  PFA News

After months of quiet, many on Wall Street have begun to warn about the urgent risk that, without a deal in sight on raising the U.S. debt ceiling, the government might default on its debt, likely driving the economy into recession. So reports Politico.

wall street 264381 640 smallAnalysts at Goldman Sachs, Stifel, and JPMorgan were among the voices sounding the alarm, with the last of these cautioning that there was a “non-trivial risk” of the government going into at least a technical default.

The cost of credit default swaps, which big holders of Treasury securities can use to mitigate default risk, has soared to its highest in more than 10 years.

Read the full article from Politico.

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