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Gold Sinks As Trump, Congress Agree On 3-Month Debt Limit Extension

Courtesy of ZeroHedge. View original post here.

It appears President Trump has sided with the Democrats' plan – derided earlier by Paul Ryan – to keep any 'fix' for the debt-ceiling, short-term; has worked. Bloomberg reports that President Trump and Congress have agreed on a Harvey Aid, Debt-Limit extension continuing resolution through Dec 15th.

Politico's Jake Sherman reports that:

"i am told by multiple sources Rs are furious. The Democratic ploy — to keep debt limit short term — worked. It took just a few hours"

"TRUMP also agreed to extend government funding until December 15, setting up a wild final month of the year."

"TRUMP agrees to 3-month debt limit increase in meeting w hill leaders. All GOP leaders were opposed, per multiple sources."

"TO BE CLEAR: Debt limit, govt funding expires 12/15. Ryan, McConnell, McCarthy were all opposed. Trump, Pelosi, Schumer were on same side"

T-Bill yields confirmed their earlier plunge

and gold is tumbling on the short-term can-kicking effort.

So now we watch the Dec 15th T-Bills for signals of chaos.


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