The debt ceiling and interest rate hikes are the two major concerns in the market at the beginning of June. The debt ceiling bill has already been passed by both houses of Congress, while the implied probability of no interest rate hike in June has risen to 75%. Many Federal Reserve officials, including the President of the Federal Reserve Bank of Philadelphia, have called for skipping the rate hike.Due to traders' increased expectations that the Federal Open Market Committee will not raise rates at its meeting on June 13-14, numerous fintech companies have seen significant gains. For example, $Upstart Holdings, Inc.(UPST)$ rose 9.2% on Thursday, $Blend Labs, Inc.(BLND)$ ose 3.1%, and
How will Debt-Ceiling issue affect stock market?
President Joe Biden and House Speaker Kevin McCarthy have announced they have agreed in principle to raise the US debt ceiling and avert a default. For the market, reaching a debt ceiling agreement may mean the start of a new round of liquidity shocks, ------- How will the raised debt ceiling affect stocks market? What's your trading plan?
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