Biden pulls out of Quad summit: What is the US debt ceiling deal, over which lawmakers are sparring?

Source: https://indianexpress.com/article/explained/explained-global/us-debt-ceiling-crisis-what-is-the-deal-biden-and-mccarthy-have-struck-8633785/

Discussions were partly overshadowed by the US debt ceiling standoff as the world's largest economy faces its first ever default.

Source: https://www.hurriyetdailynews.com/g7-finance-chiefs-move-to-diversify-supply-chains-183114

Due to extraordinary measures and various accounting methods, the 2011 US debt ceiling extension deadline was prolonged to 2 August 2011.

Source: https://www.marketpulse.com/indices/sp-500-ignoring-us-debt-ceiling-standoff-risk/kwong

On the US debt ceiling talks, President Biden has truncated an overseas trip (returning on Sunday from Wednesday previously) to participate in further negotiations on raising the debt ceiling.

Source: https://www.forexlive.com/technical-analysis/the-nzd-is-the-strongest-and-the-jpy-is-the-weakest-as-the-north-american-session-begins-20230517/

Past US debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, avoiding an unprecedented default.

Source: https://www.channelnewsasia.com/business/us-debt-standoff-g7-finance-leaders-meeting-3480796?cid=cna_flip_070214

The recent developments, such as US debt ceiling negotiations and the Federal Reserve interest rate decision have further dented investors’ sentiment.

Source: https://www.financialexpress.com/market/cafeinvest/banking-real-estate-infra-stocks-likely-to-perform-well-this-year-it-may-be-under-pressure-siddharth-oberoi/3102516/

US stock futures advanced as appetite for risk taking returned to global markets following the deal between President Joe Biden and House Speaker Kevin McCarthy on the US debt ceiling.

Source: https://biztoc.com/x/8f2175cb5d12a8bb?ref=ff

What's in US debt ceiling deal and who won?

Source: https://www.bbc.co.uk/news/world-us-canada-65744615?at_medium=RSS&at_campaign=KARANGA