Making sense of the markets this week: May 28, 2023 + MORE May 26th

Hitting our head on the U.S. debt ceiling

By far, the dominant force influencing markets this week was the completely illogical farce that is “the U.S. debt ceiling” debacle.

We try not to delve deeply into partisan politics here, as we try to keep focus on the more nuanced and interesting forces of the world’s financial markets. That said, even at the best of times, it’s impossible to separate economics and politics. And, these are hardly the best of times.

For those unfamiliar with the U.S. debt ceiling drama, you likely have three questions:

What is the U.S. debt ceiling?How bad could it get?Does it matter to me as a Canadian investor?

This nicely answers, what is the U.S. debt ceiling?:

2/ First things first, what is the debt ceiling? The debt ceiling is a legal limit set by Congress on the total amount of debt that the U…

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