U.S. Treasurys rose on Thursday as the debt ceiling crisis came closer to a resolution after the Fiscal Responsibility Act passed in the House vote Wednesday.
The bill must now be passed by the Democrat-controlled Senate, which leaders from both sides have said they hope will happen in the coming days, before it can be signed into law by President Joe Biden.
Elsewhere, investors assessed the outlook for the labor market, awaiting ADP's employment change report for May and weekly initial jobless claims data on Thursday, as well as April's payroll report which is due Friday. ISM's purchasing managers' index report for the manufacturing sector is also due Thursday.
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House to vote on debt ceiling dealThe House is expected to vote on a deal to increase the debt ceiling and limit spending Wednesday night, amid opposition from lawmakers on both ends of the political spectrum.
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Texas House Announces Impeachment Managers Prosecuting AG Case in Senate TrialThe Texas House appointed 12 of its members to prosecute the impeachment case against Attorney General Ken Paxton on Monday during its final meeting this regular legislative session. The Republican-majority board of impeachment managers will be chaired by representative Andrew Murr (R-Junction) and vice chaired by representative Ann Johnson (D-Houston)...
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Political fights over property taxes rage as Texas House and Senate rush bills forwardThe Texas Legislature’s special session began Tuesday much in the way that the regular session ended a day before: with the Republican leaders of the House and Senate fighting over property taxes.
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Political fights over property taxes rage as Texas House and Senate rush bills forwardLt. Gov. Dan Patrick and the Senate swiftly passed legislation meant to provide property tax relief Tuesday. But House Speaker Dade Phelan quickly rejected it, saying it fell outside the guidelines for bills that Gov. Greg Abbott laid out for the special session.
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Texas House names Ken Paxton impeachment managers; Senate trial will start by Aug. 28Seven Republicans and five Democrats make up the board of managers who will handle the prosecution in the trial. KenPaxton TexasAttorneyGeneral TexasCorruption paxton PaxtonImpeachment txlege
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