Cost of insuring vs US default increases before vote on debt ceiling bill

"With concerted opposition emerging among the ultraconservative Republican Freedom Caucus and some on the far left of the Democratic Party, more moderate representatives are likely to form a makeshift cross-aisle coalition in order to advance the measure to the Senate and avoid a default by June 5," Karl Schamotta, chief market strategist at Corpay in Toronto, wrote in a research note. Read the Reuters article here.