While you were sleeping Rally on hope for deal

Thu, 10 Oct 2013

By Margreet Dietz Oct. 11 (BusinessDesk) - Equities rallied on optimism that US lawmakers were finally starting to make headway on an agreement to raise the debt ceiling, even if only temporarily, and avoid a potential default. House Republicans suggested a plan that would lift the debit limit for six weeks, from the current Oct. 17 deadline. Wall Street surged on hope for progress. The rate on US$120 billion in bills due Oct. 17 dropped for the first time in six days, falling 10 basis points to 0.39 percent, according to Bloomberg Bond Tra...

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