While the US Debt Ceiling has been on our radar for a while (see Walter’s Quarterly letters from last year), it is now starting to take center stage. In June’s First Week video, Walter shares the market’s reactions to US debt, upcoming legislation, and, of course, tariffs.

In this month’s video:

• Tariffs’ Day in Court: A recent court ruling found the Trump Administration’s tariffs under the International Economic Emergency Powers Act (IEEPA) illegal.
• Rising Interest Rates: Rising U.S. interest rates and debt levels are pressuring markets.
• Big Beautiful Bill: A major spending bill has passed in the House…will it pass in the Senate?