We Believe Real X-Date is June 8 or 9: Goldman's Phillips

The transcript discusses the uncertainty around the deadline for a financial decision, speculating on dates in June and July. It highlights concerns about a potential credit downgrade by agencies like S&P and Fitch, noting the perceived risk of missed payments. The conversation also covers the implications of raising the debt ceiling, including liquidity issues and the impact on the Treasury's cash balance. The potential for bank stress and its effect on deposits is also mentioned.

What liquidity issues are anticipated after the debt limit is raised?

What concerns are raised regarding bank deposits in relation to the current economic situation?