Debt Ceiling Worries Mount as US Approaches Deadline.

The US government's deadline to raise the $31.4tn debt ceiling could be sooner than expected, with weaker-than-expected tax receipts for the April filing season pulling forward the risk of a debt default that could have wide repercussions across global financial markets. The Treasury can use cash on hand and extraordinary measures to generate cash once the debt limit is reached. Some Treasury bills are featuring a premium in their yields that may be tied to an elevated default risk, according to some analysts. An actual US debt default would likely send shockwaves through global financial markets, as investors would lose confidence in the US ability to pay its bonds, which are seen as among the safest investments and serve as building blocks for the world's financial system.