President Biden: Debt ceiling and budget are totally unrelated

Pres. Biden says:

• Debt ceiling and budget are totally unrelated
• Republicans are divided on the debt ceiling
• MAGA Republicans want Whitehouse to agree to draconian cuts
• Can have budget discussions but not under threat of default
• Debt ceiling showdown is a manufactured crisis

The expectations are that the US has money until around June 1.

Meanwhile stocks remain elevated with the Dow industrial average of 422 points or 1.27%. The S&P index is up 59.34 points or 1.46%. The NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is up 208 points or 1.74%

Three-month yields and one-month yields are reacting somewhat with the three-month yield up to 5.29%. However the 2 year yield although up 20 basis points on the day is still lower on the week at 3.930%. Last week the week closed with the 2 year yield at 4.008%. Admittedly it reached a low of 3.657% this week, but the Fed The Fed "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of "The Fed" is a short-hand that refers to the Federal Reserve or Federal Reserve System, the central banking system of the United States. Traders often discuss the actions of the Fed, primarily interest rate decisions, as they significantly impact all financial markets.The Fed shouldn't be confused or substituted with the term "the Feds" and doing so tells everyone you're a total noob. The term "the Feds" refers to US Federal law enforcement, including such agencies as the FBI (Federal Bureau of Read this Term also raise rates by 25 basis points this week, and did not exactly back off from the potential for more.

Markets are assuming there will be a solution sooner or later in one form or the other even if it is a kicking the can down the road as efforts are made to get everyone in line.