Passage of a debt limit deal through both houses of Congress appears to have eased market fears of a debt default, with Wall Street’s 'fear gauge' sinking to its lowest level since before the Covid-19 pandemic, on Friday. – EPA pic, June 3, 2023.
STOCK markets rallied yesterday, closing out the week on a high in the United States following a bumper jobs report and a deal in Congress to avert a potentially catastrophic debt default. The stronger-than-expected employment data released yesterday morning suggests the US economy remains resilient despite concerted action from the Federal Reserve to suppress demand and bring down high inflation.
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