Invesco Fixed Income writes "Countdown to Debt Ceiling Debate." The piece, written by Justin Mandeville, says, "As the March 15 deadline approaches, U.S. Treasury bills could become increasingly volatile. In the first quarter of 2017, a newly minted Congress will be tasked with approving an increase in the U.S. government's debt limit -- the so-called "debt ceiling" -- which is set to expire on March 15, 2017. If the debt ceiling is not raised, the US Treasury bill market could experience volatility as investors adjust to a potential reduction in the supply of Treasury bills.... If the debt ceiling is not raised in March, the US Treasury's cash balance, which is mandated by law, would need to decrease dramatically, which in turn means a sharp reduction in the need for US Treasury bill issuance.... With the debt ceiling battle on the horizon, we could see volatility in US Treasury bills in the coming months."

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