The media still likes to portray the debt ceiling fight as a choice between "raise it" and "default" even though there are several options in between.
Despite the hype about this issue, it's obvious that the market is wholly unconcerned.
It hasn't gotten much attention, but the plunge in short-term, 6-month rates is remarkable.
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See Also:
- Bill Gross: Here's How Bondholders Get Killed On "The Liquidation of Government Debt"
- The Bill Gross Treasury Short Debacle Gets Worse And Worse
- REMINDER: Here's What The Market LOVES Today
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