Failure to raise debt ceiling can harm the economy. Democrats and Republicans have been contentious.

The global bond market is estimated to be around $128 trillion USD in size, comprising various debt securities issued by governments, corporations, and other entities. It remains an important source of financing for governments and corporations, playing a crucial role in the global economy.

S&P 500 and Dow 30 had another pullback after the sharp increase of 10-YR bond yield.