The U.S. Treasury on Thursday announced a slate of T-bill auctions for early next week that some market participants see as an indication that the debt ceiling's so-called 'X-date' may not in fact be June 1.
The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly
That's the date that Treasury Secretary Janet Yellen has repeatedly pointed to as a possible deadline for the government running short of the funds to cover all of its obligations unless a deal between the White House and congressional Republicans is reached to lift the $31.4 billion U.S. debt cap. "But," Goldberg continued, "that's really where the positivity stops because really we know it's very likely in the first two weeks of June the Treasury will run out of cash."Despite Yellen's remarks that the X-date could be as early as June 1, most Wall Street firms estimate the date that Treasury will finally run out of room under the extraordinary measures it has employed for months to stretch its borrowing capacity is more likely between June 6 and June 9.
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