BoA say US federal government will forced to default on a portion of its daily obligations
Bloomberg (gated) have the report of comments from BoA concerning US politics. Specifically the potential for a Reepublican controlled House of Representatives to refuse funding on debt ceiling negotiations “We think it is likely that by late summer or early fall, the federal government will temporarily be forced to default on a portion of its daily obligations for a time ranging between a couple of days to a few weeks,” wrote Bank of America strategist Ralph Axel in a note to clients. “If so, this would represent the first time in history that the US would default on any of its obligations due to the debt ceiling law.”eur This article was written by Eamonn Sheridan at www.forexlive.com.
Bloomberg (gated) have the report of comments from BoA concerning US politics. Specifically the potential for a Reepublican controlled House of Representatives to refuse funding on debt ceiling negotiations
- “We think it is likely that by late summer or early fall, the federal government will temporarily be forced to default on a portion of its daily obligations for a time ranging between a couple of days to a few weeks,” wrote Bank of America strategist Ralph Axel in a note to clients. “If so, this would represent the first time in history that the US would default on any of its obligations due to the debt ceiling law.”
