Breaking: JP Morgan Warns Of Major Market Crash If Debt Talks Go Wrong
Financial Markets Remain Volatile In a note to clients on Monday, JPMorgan’s equity macro strategy team expressed concerns that equities may be slow to factor in the risks of a contested debt-ceiling rise and the growing probabilities of a technical default. As the US gets closer to the deadline, these risks could sharply re-price, leading to broader market turbulence. advertisement Read More: STEPN Secures Landmark Integration With Apple, GMT Price Explodes Over 8% Bank of America Research, on the other hand, highlights that debt ceiling concerns typically impact stocks when the X-date, the day the US is expected to default on its obligations, is within two weeks. Moreover, Goldman Sachs projects that the Treasury’s cash balance can fall below $30 billion by June 8-9, a threshold historically used to project the deadline. While speaking about the development, Goldman Sachs’ economic research team was quoted as saying: We also expect a few more...