Stocks Rise, Treasuries Fall on Debt-Ceiling Deal: Markets Wrap
- Trump accepts three-month delay as part of Harvey aid package
- Fischer Fed resignation leaves big open questions for year-end
What Interim Debt-Limit Fix Means for Tax Reform
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U.S. stocks pushed higher while longer-term government debt fell after lawmakers reached a deal with President Donald Trump to extend the U.S. debt limit and fund the government through mid-December.
The S&P 500 Index added to its gains after Democratic congressional leaders announced the agreement, which also includes aid to victims of Hurricane Harvey. Ten-year Treasury yields jumped, while shorter-term bills showed a mixed reaction. Yields on bills maturing on Oct. 5 and Oct. 12 fell as much as 12 basis points but December yields climbed, as investors anticipated a rerun of the debt drama that roiled markets in recent weeks.