Yellen Says U.S. ‘Almost Certain’ to Miss Early June Payments Unless Debt Limit Is Raised

The Biden administration isn’t working with investors on how to respond to a potential default on the U.S. debt, Treasury Secretary Janet Yellen said, adding that the focus remains on raising the debt ceiling so the government can pay its bills on time. 

Yellen has warned that the U.S. could become unable to meet all of its financial obligations as soon as June 1, giving Republicans and Democrats little more than a week to find an agreement on raising the debt limit. 

Treasury securities are a bedrock of the global...