CHART OF THE DAY: Debt Ceiling Optimism Breaks Out

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With all the talk of Obama caving on some entitlement programs, and the GOP caving on some revenue increases, debt ceiling optimism has broken out.

On InTrade, odds of a deal by the end of August just spiked on big volume.

Still, odds of a deal are only at 80%.

chart of the day, debt ceiling, july 2011

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