-- Relentlessly rising debt in the US and rich-world peers was highlighted by two credit-assessment companies, with S&P Global Ratings warning that only acute market pressure can alter the trajectory.
Both reports were released on a day when US markets are closed for July 4, with their observations arriving at a sensitive time in the electoral cycle there and elsewhere. Joe Biden faces mounting pressure to drop out of the 2024 presidential race, UK citizens go to the polls on Thursday, and their French peers will vote for a new parliament this weekend.
“If, at this stage, a looming threat of default is needed to compel comparatively moderate cuts of the Fiscal Responsibility Act of 2023, this underscores the pressures that might be needed to ensure a stable debt trajectory,” he wrote.“Broad, bipartisan support on proactive measures to meaningfully reduce high fiscal deficits and curtail the rise in government debt has been elusive,” he said. “This affects creditworthiness.
Shen at Scope cautioned, however, that rising debt there could stoke more investor unease after a “material” widening in the country’s bond spread over German equivalents. Karine Jean-Pierre, NBC's Kelly O'Donnell pause conference to call out journalist's 'inappropriate' Joe Biden jokeRudy Giuliani's creditors, including two former Georgia election workers who won a $148 million defamation judgment against him, are opposing his attempt to convert his bankruptcy into a liquidation, saying they'll likely ask that the case be thrown out instead because of what they call his flouting of bankruptcy laws.
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