Debt Ceiling Implications
Below is a synopsis of this investment report:
- The media has devoted a great deal of attention towards the government shutdown and debt ceiling debates this week, as well as a possible default by the U.S. government on its debt.
- Whereas we feel that the government shutdown is immaterial, the debt ceiling issue is a more serious situation as even a threat of default will cause long-term interest rates to rise.
- Although we believe that the odds of a default are extremely low, we are taking steps to shield our income portfolios from the negative effects of rising interest rates.
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