(Un)Lucky Town: US Treasury Bill Curve Collapses On Debt Ceiling Concerns (While Fed’s Stanley Fischer Resigns as Vice Chair)

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Yes, Washington DC is not Bruce Springsteen’s “Lucky Town.” In fact, it is unlucky … for the rest of us given their insane spending habits.


The US Treasury Bills curve collapsed this morning.


The Treasury bill maturing on October 5, 2017 declined from 1.20% a couple of days ago to 1.067% today.


The shift in the Treasury bill curve since September 1 can be seen here:


While we see a little disturbance in the US CDS 5Y, it is almost undetectable in the US CDS 1Y.


Finally, The Federal Reserve’s Vice Chairman Stanley Fischer has resigned suddenly for personal reasons.


Here are members of Congress working towards resolving an increase in the debt ceiling.

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