Last updated: July 25, 2011 9:28 pm
US debt impasse spooks markets
By Michael Mackenzie in New York and James Politi and Alan Beattie in Washington
FT.com
Investor fears about gridlock in Washington over raising the US debt ceiling mounted further as political leaders jousted over competing solutions to avert a possible debt default in August.
The lack of public signs of progress in resolving the debt ceiling impasse between the Republican and Democratic parties cast a shadow over global markets, with frustrated investors withdrawing further into haven assets.
The dollar moved to an all-time low against the Swiss franc while gold touched a record high. Long-dated US Treasury bonds weakened while global stocks remained under pressure.
Full story: http://www.ft.com/cms/s/0/6f33e03c-b6d4-11e0-a8b8-00144feabdc0.html#axzz1T9oeFa8P
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