With only President Biden's signature awaiting, the US has avoided default! At 63 to 36, the Senate on Thursday night, like the House on Wednesday night, passed the debt-ceiling bill by a wide margin. The deal pushes back the next debt-ceiling crisis to 2025. In a statement, Biden said both the Republicans and Democrats demonstrated once more that America is a nation that pays its bills and meets its obligations and always will be.

Global-FYI tracks critical developments fon the global markets including political news, special central bank announcements, and substantial moves in the financial markets.

Major political events and special announcements by the global central banks can shift both the short-term and long-term outlooks for the global economy and financial markets.