Goldman Sachs on debt ceiling deal - nope

Goldman Sachs outlook for an imminent deal:

• the odds of agreement are very low
• so if the meeting produces headlines they are more likely to be negative

This seems applicable to all meetings at present, its only when we get closer to the drop dead date that the odds of an agreement will improve. IMO.

GS on the date:

• Our central scenario is still that the Treasury’s cash balance will drop to minimal levels from June 8-13

Yellen keeps saying June 1:

• Yellen repeats the June 1 date for possible US default without debt ceiling hike