Debt ceiling: “it doesn’t look like markets are tanking just yet”

No, but stocks and bonds are down. Global equity markets are down and safe havens like gold and the Swiss Franc are up. Listen to what Stan Collender has to say on Bloomberg about the debt ceiling talks. He thinks the likelihood of a deal is less than many believe. But, now the bet on whether Congress is to approve increase in US debt ceiling to $15.1T or more before midnight ET 31 Jul 2011 is now down to 34% (hat tip Dave). So markets are clearly catching up to Collender’s view.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.