What happens if America defaults on its debt?

Wall Street is getting nervous questions about debt ceiling default. (Image: Getty)

Tue, 23 May 2023

By Christopher Anstey and Liz Capo McCormickInvestment bank clients are peppering Wall Street with questions about what happens if the US Treasury in coming weeks runs out of cash and does the unthinkable – failing to make payments due on Treasury securities, the bedrock of the global financial system.With the clock ticking to June 1, the date by when Treasury secretary Janet Yellen has advised her department may run out of sufficient cash, as of Monday (US time) there was still no deal announced between President Joe Biden and speaker Ke...

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Property

Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

The Quiz Free

QuiznessDesk: Thursday, Oct 31

One Night in Bangkok was a hit song from what musical?By inserting an extra letter, what word meaning a small group of trees can be changed to one meaning a dead body?State Highway 2 between Gisborne and Opotiki passes through what gorge?What was the nickname of a 1940s Hollywood...

The Quizmaster 9:15am