Liquidity Squeeze
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 1 June 2023
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Office Wall Street Breakfast, your daily source of market news and analysis. |
| 0:07.0 | Good morning. Today is Thursday, Dream First, and I'm your host, Kim Khan. |
| 0:12.0 | Our top stories today. Liquidity worries arise as debt-ceiling |
| 0:16.0 | deal easily passes the house. Meta threatens to pull news from California and is the AI boom starting to show cracks. |
| 0:24.0 | Leading today's news, the House of Representatives voted Wednesday night to easily pass its |
| 0:29.6 | debt-ceiling relief deal. The vote total was 314.4 and 117 against. Republicans voted for the |
| 0:37.2 | bill by a 149 to 71 margin while Democrats approved with a 165 to 46 vote. |
| 0:45.0 | After emerging from Committee Tuesday and procedural votes earlier Wednesday, |
| 0:49.0 | the debt ceiling bill was the subject of closely watched comments |
| 0:52.0 | from representatives on both sides of the aisle. |
| 0:55.4 | Plenty found much to dislike with a compromise, but now the measure is set to go to the Senate. |
| 1:00.4 | Senators are also working under a tight timetable preparing for a weekend vote. |
| 1:05.0 | A number of senators have expressed the wish to amend the bill, |
| 1:08.0 | but any successful amendments mean it would be set to return to the House for more approval and that would also threaten the |
| 1:14.4 | deadline that could bring to fault. |
| 1:17.0 | Today was supposed to be the X date or the date when the Treasury could no longer fund its obligations, |
| 1:21.8 | but that was pushed out to June 5th. |
| 1:24.0 | Still, the amount of money that the Treasury has to pay its bills is now at the lowest level |
| 1:28.0 | since 2017. |
| 1:30.0 | Any hitch in passing the debt ceiling agreement in Washington could bring default back to the forefront. |
| 1:34.6 | The Treasury cash balance dropped to $37.4 billion on Tuesday, Bloomberg reported, citing the latest available data. |
| 1:41.8 | It will go ahead with auctions of one month and two month |
... |
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