Evan Frazier, CFA, CAIA
Senior Research Analyst
In February of this year, Marquette published a Perspectives piece entitled Is the Sky Falling? that detailed the history of the United States debt ceiling, as well as the early innings of negotiations surrounding its possible increase or suspension given the fact that the $31.4 trillion limit was reached on January 19. In the months since, the Treasury Department has been forced to resort to “extraordinary measures” in order to prevent the U.S. from defaulting on its obligations, including suspending sales of state and local government series Treasury securities. Those measures, however, will likely be exhausted in the very near future according to the nonpartisan Congressional Budget Office (perhaps as early as June), at which point the federal government will ultimately be unable to pay its obligations fully and, as a result, have to delay making payments for some activities and/or default on its debt obligations. This is commonly referred to as the x-date. It is worth pointing out that a number of large Wall Street firms have brought their forecasts of this date forward in recent days.
This newsletter analyzes potential repercussions of a U.S. default and options for a resolution of the debt limit impasse in Congress.
Read > Down to the Wire: An Update on the 2023 U.S. Debt Ceiling Crisis
05.17.2023
Investor questions continue to mount as the U.S. nears the Treasury’s estimated debt ceiling “X-date” of June 1. While there…
05.12.2023
If global temperatures rise more than 1.5° Celsius the planet and its inhabitants could face severe consequences as a result…
05.02.2023
When First Republic Bank’s 84 branches opened Monday morning, they belonged to the since-failed bank in signage alone after a…
04.26.2023
The launch of ChatGPT — a chatbot technology that can mimic human-like understanding and generate well-crafted, conversational responses — marks…
04.06.2023
This video is a recording of a live webinar held April 20 by Marquette’s research team, featuring in-depth analysis of…
04.13.2023
2022, marred by macro uncertainty and aggressive rate hikes, marked the worst year for the S&P 500 since the Global…
Research alerts keep you updated on our latest research publications. Simply enter your contact information, choose the research alerts you would like to receive and click Subscribe. Alerts will be sent as research is published.
We respect your privacy. We will never share or sell your information.
If you have questions or need further information, please contact us directly and we will respond to your inquiry within 24 hours.
Contact Us >