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2021/10/01 / Erste Group Research

US public finances on shaky ground

Once again, there is a risk that the US Treasury will not be able to pay its debts on time. There are essentially two decisions at stake. One is about the budget for the fiscal year that started on October 1 and the second issue is the debt ceiling. An agreement on the budget was reached at the last minute, thus avoiding a government shutdown. At least for now, because the budget was only approved until December 3. Time to suspend or increase the debt ceiling is until October, 18.

Due to the situation in Asia, among other things, the prices for electricity and gas also continued to rise unchecked in Europe this week, and the price of electricity had increased by 20% by Thursday compared to the previous week. On the futures markets, a noticeable drop in the price of natural gas is not expected until the end of the winter season (April 2022).


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General information

AuthorErste Group Research
Date2021/10/01
Languageen
Product nameWeek ahead
Topic in focusMacro/ Fixed income
Economy in focusEurozone, United States
Currency in focusEuro, US Dollar
Sector in focus-
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