Market Watch

Markets could soar with US debt ceiling deal, but Congress approval is needed to sustain a rally

The debt ceiling negotiations will loom large over the market this week. PHOTO: AFP
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SINGAPORE – Markets could soar this week following a tentative deal on the US$31.4 trillion (S$42.4 trillion) debt ceiling hammered out by House Republican leader Kevin McCarthy and US President Joe Biden.

In fact, optimism about a deal being close at hand already sent stocks northwards during the final session of last week.

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