Debt limit optimism and decent data are nibbling away at the pricing of Fed rate cuts and dollar shorts are feeling the squeeze. It’s “just a correction” but it’s painful all the same.

Joe Biden, the US President, called the bipartisan offer from House Speaker Joseph McCarthy “unacceptable.” The risk that the US government fails to make its debt payments by June 1 grows

The first real US government bond payment default risk falls on June 6th.

Without a debt ceiling resolution, the US government could place the global financial system in ‘shock’ as soon as June 6th. If not before.