Bank of America strategists Katie Craig and Mark Cabana said in a report that the Treasury's general account balance is expected to be higher than previously anticipated, which will advance the time for the debt ceiling to become constrained and the time for the Treasury to run out of room for maneuver. The strategist currently anticipates that the debt ceiling will become a hard constraint in February 2027, which was previously expected in May. They maintain their “X Day” forecast for November 2027, but believe the Treasury may “uncomfortably approach” that date as early as August 2027.

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