Wall Street Not Worried About Default Yet

“Wall Street is showing few signs so far that it is fearing the financial panic it has been predicting should the government default on its debt,” the New York Times reports.

“Many strategists are closely watching how much investors are willing to pay for Treasury bills that are set to come due in the days immediately after Oct. 17. Normally as the due date for a bill draws closer, it becomes more expensive, trading at less of a discount to its par value. Now, though, the bills set to pay out in the near term are getting much cheaper as investors question whether the government will be able to pay them off.”