Watch again as White House press secretary Karine Jean-Pierre and director of the office of budget and management Shalanda Young hold a daily briefing as the House of Representatives prepares to vote on the debt ceiling agreement on Wednesday, 31 May.
US President Joe Biden and House Speaker Kevin McCarthy agreed on a debt ceiling plan on Sunday.
The cost of insuring exposure to a US debt default dropped on Tuesday, but some concerns remained because of the tight timeline and opposition from some lawmakers.
"There remain potential hurdles in the process and the sabre-rattling has continued," BMO Capital Markets analysts said in a note.
"We’re content to characterise the vocal opposition as politics as usual and assume the process won’t break down before the finish line," they added.
Investors are also bracing for potential rating actions even if a default is averted.
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