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You’d expect the stock market to surge after the White House and House Republicans reached a tentative deal to raise the debt ceiling, but markets may have other plans.

The stock market, for the most part, has been ignoring the serious risks associated with the United States defaulting on its debt. Even if Congress passes a bill to raise the debt ceiling and President Joe Biden signs it, it could take months before stocks and other financial markets move on.

“One of the concerns I have is that even in the run-up to an agreement, when one does occur, there can be substantial financial market distress,” Treasury Secretary Janet Yellen said last week.

“We’re seeing just the beginnings of it,” she said, referring to stock and bond market volatility in recent days.

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You’d expect the stock market to surge after the White House and House Republicans reached a tentative deal to raise the debt ceiling, but markets may have other plans.

“One of the concerns I have is that even in the run-up to an agreement, when one does occur, there can be substantial financial market distress,” Treasury Secretary Janet Yellen said last week.

“We’re seeing just the beginnings of it,” she said, referring to stock and bond market volatility in recent days.

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You’d expect the stock market to surge after the White House and House Republicans reached a tentative deal to raise the debt ceiling, but markets may have other plans.

“One of the concerns I have is that even in the run-up to an agreement, when one does occur, there can be substantial financial market distress,” Treasury Secretary Janet Yellen said last week.

“We’re seeing just the beginnings of it,” she said, referring to stock and bond market volatility in recent days.

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