The Elusive Debt Ceiling 'X-Date': Why It's Hard to Pinpoint.
The US Treasury's announcement of T-bill auctions for next week has led some market participants to believe that the debt ceiling's "X-date" may not be June 1, as previously thought. Despite Treasury Secretary Janet Yellen's warnings, most Wall Street firms estimate that the government will run out of room under its extraordinary measures between June 6 and June 9. Talks between the Biden administration and Republicans in the US House of Representatives have shown progress, with the two sides just $70 billion apart on a total figure that would be well over $1 trillion.