Debt Debate Won't Be Solved in 1-2 Weeks: Jim Millstein

The video discusses the changing political landscape in Washington and its impact on budget negotiations, highlighting the challenges faced by Kevin McCarthy with a slim majority. It examines the U.S. debt situation, the risk of default, and the implications for financial markets, including the T-bill rates and money market funds. The potential effects on the repo market and overall liquidity in capital markets are also explored.

What are the potential consequences of a downgrade or default on U.S. Treasuries for money market funds?

Explain the role of the repo market in maintaining liquidity in capital markets.