wall st.

‘s Failure to Panic

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I just got off the phone with a source on Capitol Hill who has spent the past few days trying to convince Republicans to vote for a debt ceiling hike. He told me that the biggest obstacle he faces has been “market complacency.” “Frankly, a bit of panic would be very helpful right now,” he said. As he explained it, lots of people in Washington, D.C., expected that this would be a week marked by panic in the markets. Stocks would tank. Bonds would get clobbered. The dollar would do something dramatic. And all of this would help convince reluctant … Read more

Debt Limit and Wall St.

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Last Update: July 15, 2011 04:08 ET   Debt Limit and Wall St Paul A. Ebeling, Jnr.     Wall Street not concerned about US debt ceiling hassle or default In Washington DC, the fight over to raise or not to raise the US federal debt limit grows stranger by the day. The White House says the limit must be raised by August 2nd, or the government will not be able to pay its bills, possibly including US bonds held around the World. But as the deadline nears, US stocks and bonds, if they could talk, are saying So What! … Read more