to the US Treasury market, but it's likely to rattle long-term confidence in American assets, according to Atlantic Council senior director Josh Lipsky.
The fallout would resemble those of past crises when stocks tumbled, unemployment climbed, and a recession hit — and that means the US Treasury market would offer the best near-term option if the so-called X-date arrives without a debt ceiling deal, Lipsky told Insider. "But in the long term, it's just one more piece of the puzzle where investors around the world say this is not a reliable leader of the international finance system," Lipsky said."More and more countries will look for alternatives, and eventually they will find them."
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