Cool heads appear to be emerging in the US as both parties concede a US default in not an option. A proposed short term lift in the debt cap has eased market concerns in the short term, however, it remains a patch for the time being. The rally in US markets looks to be as much in response to cool heads as it is to the raising of the debt ceiling. Press secretary Carney comments that there at least seems to be a recognition that default is not an option, would go a long way to easing market nerves around the possibility of a fallout. Further coverage in the following article on Bloomberg, (VIEW LINK)
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