Debt ceiling debacle threatening fireworks in money market

Out of cash: People walk past the Treasury Department building in Washington. The Congressional Budget Office estimates that the Treasury would likely run out of cash sometime in October or November, according to a paper published Wednesday. Bloomberg

THE imminent return of the US debt ceiling is causing angst for money-market traders once again.

While the risk that Uncle Sam might default by missing a payment on a bill or two is minuscule, investors are wondering if and how the Treasury can slash its giant cash pile to the level the department has indicated would be consistent with its policies and the 2019 act that suspended the limit.