There could be a big swing in volatility and traders would be selling risk around the world if talks collapse, but as with previous years as the deadline approaches minds of the US legislators are focussed in on bringing a solution. As Marc Ostwald from ADMISI says there could be a postponement and a period of grace, but in the end there is an expectation that the debt ceiling will be raised. In the unlikely event a default does occur, Marc Ostwald considers the potential market moves.
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