Comments: August is going to be a very tumultuous month.
First, we have the debt ceiling issue to contend with. It's been estimated that X-Day (the date after which Treasury will not havesufficient cash to pay ALL of its bills) is going to be sometime between August 2 and August 9.
Next, if and when we get over the X-Day hurdle, there is the matter of $467 Billion of Treasury debt that will need to get financed in August. $467 Billion in one month, that is simply a staggering figure.
Interesting that interest rates spiked higher last week, just after this report was released privately.
Originally posted at Zerohedge: link
Debt Ceiling Analysis
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