DELAYED: Treasury Pushes Back Unveiling Of Post-August 2 Plans

Tim Geithner CNBC

Photo: CNBC

Important point…Previously there had been reports that after the close of market today, Treasury would unveil its payment prioritization plan in the event of a failure to pass a debt ceiling hike.

According to Ben White at Morning Money, that has now been delayed (due to last night’s madness) for at least a few days. “The administration intends to wait and see how Congress plans to move ahead before getting into details of how it would prioritise expenses and make a $29 billion interest payment to bond holders on Aug. 15th.”

Should be a fun weekend, with lots of concern about the opening of Asian markets on Sunday.

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