Traders turn optimistic on debt ceiling deal and one strategist says it's a 'market opportunity'
CNBC 2023-05-29 07:12:34 • 5 mins
Key Points
- Analysts are broadly optimistic that the deal to raise the U.S. debt ceiling will pass a divided Congress.
- Even though the in-principle deal has been reached between the two sides, it will still need congressional approval by both the House of Representatives and the Senate.
- In the midst of this turmoil, investors may be able to find a "market opportunity," according to Stephen Pavlick, partner and head of policy at Renaissance Macro Research.
WASHINGTON, DC - MAY 26: U.S. Speaker of the House Rep. Kevin McCarthy (R-CA) speaks to members of the media after arriving at the U.S. Capitol on May 26, 2023 in Washington, DC. Speaker McCarthy discussed the latest development of the debt ceiling negotiations with the White House. (Photo by Win McNamee/Getty Images)
Win Mcnamee | Getty Images News | Getty Images
Analysts are broadly optimistic that the deal to raise the U.S. debt ceiling will pass a divided Congress.
Their comments come after U.S. President Joe Biden and House Speaker Kevin McCarthy reached an agreement over the weekend to raise the debt ceiling to avoid a first-ever government default.
