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Good morning from the Financial Times. Today is Tuesday, May 30th.

And this is your FT News Briefing.

The US has reached a deal to raise the debt ceiling,

Democrats and Republicans plan to dot the eyes and cross the T's this week.

And the outcome of Turkey's presidential election has caused the lira to slide.

Plus, we'll take a look at how aging populations are causing government credit ratings to take a hit.

I'm Mark Filipino and here's the news you need to start your day.

All of the drama over raising the debt ceiling in the US is nearly over. Democrats and

Republicans reached a deal over the weekend that once signed, we'll prevent the United States from

defaulting on its debt and avoid an economic catastrophe in the process. I'm joined now by the

FT's Lauren Feudor. She's based in Washington and has been following the debt ceiling story. Hi,

Lauren. Hi, Mark. Okay, so we have a deal. What exactly is the status? That is right. We have a

deal after a lot of hand-ranging and many days of back and forth. Speaker the House Kevin McCarthy,

Joe Biden came out over the weekend and they said we've got a deal. A lot of people in Washington

breathed a sigh of relief when they heard that, but that's only the first step. Unfortunately,

there's still a lot more hand-ranging to go this week, particularly on Capitol Hill.

This deal needs to has been turned into a bill and now it needs to be approved by both the House

and Senate in order to go into effect. What's some of the nitty gritty? Do we know any of the

details of this deal yet? We do. We do. So originally over the weekend, we heard that it was just a

deal in principle. Then later on Sunday, a full legislative text came out and there are a couple

...