Congress might not raise the U.S. debt ceiling until close to the deadline — or until financial markets force their hands.
“Until markets get more volatile, I don’t think you’re going to see meaningful action,” said Adam Stern, co-head of research at Breckinridge Capital Advisors, by phone Wednesday. “It’s very likely they’re going to go as close to the X-date as they can before we get negotiations.”
Even…
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