Global Markets React to US Debt-Deal Push and Doubts

Treasuries and US stock futures rose on hopes that Congress will pass a debt accord to head off a default as White House and Republican congressional leaders stepped up lobbying in support of the deal. Assuming Congress approves the debt deal, the Treasury Department may sell more than $1 trillion of bills through the end of the third quarter to bolster its cash balances, according to some estimates, depriving other markets of liquidity needed to maintain gains.