Anxiety Over the Debt Ceiling Is Showing Up in Treasury Bills
- Supply on course for ‘tug of war,’ Pimco’s Schneider says
- Investor concern already evident as October bills lag
Balance Sheet in Focus Ahead of Fed Meeting
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U.S. Treasury bills, a sleepy $1.7 trillion corner of the fixed-income universe, are about to be pulled into the spotlight.
Investors in the shortest-maturity U.S. obligations, a parking spot for the world’s cash, are going to have to navigate two major challenges with a potentially contradictory impact: The looming government debt-ceiling impasse and the long-awaited start of the Federal Reserve’s unwinding of its massive balance sheet.