The U.S. Treasury Department's budget has recently encountered depletion problems. The government can no longer issue bonds to pay salaries to government agencies due to the debt ceiling. 4 million people will be forced to take unpaid leave and most government agencies will be shut down, including the SEC. , so the U.S. Congress must pass a debt ceiling to avoid a government shutdown, and the U.S. Congress passed a temporary spending bill over the weekend that allows the government to continue operating for 45 days.

This temporary spending bill is only a measure to delay the shutdown, because the U.S. Congress needs more time to negotiate. The two parties also hope to use this opportunity to negotiate to get the resources they want, but broader negotiations have not yet been reached. The United States Treasury Secretary Yellen also warned that the government shutdown would lead to an economic recession. In order to avoid the huge economic losses caused by the shutdown, both parties took a step back and delayed the deadline by 45 days.

Assuming that subsequent negotiations between the two parties break down again, the market may experience a short-term panic, causing market demand for bonds to rise and yields to fall. However, these are short-term fluctuations. In the past, the United States has always raised the debt ceiling, but now it is just that the two parties have not reached a consensus in negotiations. In addition, after the painful lessons of the shutdown a few years ago, it is expected that they will continue to postpone until a consensus is reached, rather than directly forcing the government to shut down and cause huge economic losses.

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