Relief around world as U.S. avoids debt default

Not sure if I’m happy about this or not.

Global News

BEIJING – The International Monetary Fund appealed Thursday to Washington for more stable management of the nation’s finances as Asian stock markets rose after U.S. leaders agreed to avoid a debt default and end a 16-day government shutdown.

With only hours to spare until the $16.7 trillion debt limit was reached, Congress passed and sent a waiting President Barack Obama legislation Wednesday night to allow more government borrowing and reopen public agencies.

The debt standoff had rattled global markets and threatened the image of U.S. Treasury debt as a risk-free place for governments and investors to store trillions of dollars in reserves. Few expected a U.S. default but some investors sold Treasurys over concern about possible delayed repayment and put off buying stocks that might be exposed to an American economic downturn.

Video: Congress approves bill to end shutdown and extend debt ceiling
[tp_video id=907334]

“World heaves sigh of…

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By revsavage

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