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https://www.wsj.com/articles/a-debt-ceiling-catch-22-for-investors-4889f43a

A Debt-Ceiling Catch-22 for Investors

Will markets need to start sounding alarm bells for Washington to act?

By Justin Lahart
As Democrats and Republicans debate raising the debt ceiling, they both agree that a default would be disastrous for the economy. But how? Photo Illustration: Madeline Marshall

Nothing focuses politicians’ minds on cutting deals like cratering financial markets. And nothing stays investors’ hands from hitting the sell button like a belief that an 11th hour deal will be struck.

This paradox is part of what makes the debt-ceiling negotiations so precarious.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.