US consumer confidence slipped in May as concerns about the economic outlook lingered, but more households planned to purchase motor vehicles and other big-ticket items over the next six months, which could support consumer spending.

US consumer confidence dipped in May, survey finds

A bipartisan deal to raise the US$31.4 trillion (RM144.8 trillion) US debt ceiling faces its first test in Congress on Tuesday (May 30), setting up what could be a nail-biting week of voting before the US runs out of money to pay its bills.

US debt ceiling deal to face its first test in Congress

Soon-to-mature Treasury bills rallied as trading resumed after the Memorial Day holiday, following a tentative deal over the debt ceiling which eased concerns of a US default.

The so-called ask yields on securities due June 6, the day after the US may run out of cash, were indicated 13 basis points lower at around 5.16% in Asia on Tuesday (May 30), according to data compiled by Bloomberg. Equivalent yields on debt due June 15 were indicated down 26 basis points. The bills traditionally trade in light volumes in the Asia session.

Treasury bills climb as traders bet Congress will pass debt deal

The US House Rules Committee said it will meet on Tuesday (May 30) afternoon to discuss the debt ceiling bill, which needs to pass a narrowly divided Congress before June 5, when the US Treasury says it would run short of money to cover all its obligations.

US House Rules panel to meet Tuesday on debt ceiling bill

When Kevin McCarthy was struggling early this year to get enough votes from his own Republicans to become Speaker of the House of Representatives, Democratic President Joe Biden called the prolonged saga a national embarrassment, then had a little fun.

Biden and McCarthy's bumpy journey to a debt ceiling deal

(May 29): The deadlocked debt ceiling talks between US President Joe Biden and the House Republican speaker Kevin McCarthy finally showed a beam of hope, just a couple of days before the world's largest economy was anticipated to have a historic default, Global Times reported.

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US reportedly reaches deal on raising debt ceiling, but experts still call it a 'bomb' in long term — report

(May 29): President Joe Biden and House Speaker Kevin McCarthy voiced confidence that their tentative debt-ceiling deal will pass Congress and reach the president’s desk for signature, averting a historic US default.

Biden, McCarthy signal confidence debt-limit deal will pass

WASHINGTON (May 28): Republican US House Speaker Kevin McCarthy on Sunday dismissed vehement opposition among party hardliners to a new agreement with President Joe Biden to suspend the US$31.4 trillion debt ceiling, predicting that most House Republicans would support the deal.

McCarthy predicts debt ceiling deal will pass US House with Republican support

DETROIT (May 28): The United States is taking an analytical approach to its review of whether to keep tariffs on Chinese goods in place and will not base outcomes on any "breakthrough" in US-China trade relations, Deputy US Trade Representative USTR) Sarah Bianchi told Reuters.

US’ review of China tariffs won’t depend on trade 'breakthrough', says deputy US trade representative

WASHINGTON (May 27): US President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government's US$31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate.

Biden, McCarthy reach tentative US debt ceiling deal

Representative Patrick McHenry said on Saturday (May 27) that there are still “thorny issues” in the negotiations between House Republicans and the White House to avert a catastrophic US default.

Key GOP negotiator says ‘thorny’ issues unsettled in debt deal

Democratic President Joe Biden and a lead Republican negotiator said on Friday (May 26) they were hopeful that a deal was near to raise the US government's US$31.4 trillion (RM144.47 trillion) debt ceiling, after the Treasury Department warned that a June 5 default loomed without action.

Biden sounds hopeful on US debt ceiling as Treasury warns of June 5 default

US consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could see the Federal Reserve keeping interest rates higher for some time.

US consumer spending beats expectations in April; inflation picks up

US money market funds saw big inflows in the week to May 24 as investors favoured safer bets ahead of a deadline for politicians to agree an increase in the country's debt ceiling.

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