Primary Bond Dealers Said to Meet With Treasury on Debt Ceiling
July 29th, 2011Warning: This is not a recommendation to buy, sell or hold any financial instrument.
I’m sticking with my initial guess on this: No default. The U.S. is dealing with a $14 trillion clusterfuck. No way that thing hits the wall. Not like this. There’s way too much potential for something to go super-critical.
I have no idea what’s going down at the meeting mentioned below, but it’s probably safe to assume that it has something to do with making sure that the death machine keeps grinding out the sausage by whatever means necessary.
Via: Bloomberg:
The U.S. Treasury Department is planning to meet with bond dealers at noon in New York today to discuss next month’s quarterly auctions of notes and bonds and the debt ceiling, according to people familiar with the meeting.
The Treasury has canceled its regularly scheduled individual meetings with bond dealers in favor of the group meeting, according to the people, who declined to be identified because the meeting hasn’t been publicly announced. All 20 primary dealers were invited.
The government is inching closer to running out of cash before an Aug. 2 deadline to raise the $14.3 trillion debt ceiling. House Republican leaders scrapped a vote on the debt ceiling bill late yesterday, fueling concern a compromise by the two parties won’t be reached before the deadline and casting doubt on whether the Treasury can sell more debt.
