UBS: US's ability to repay debt is not at risk

Odaily News UBS Global Wealth Management said in a report that the United States' ability to repay its debts remains intact. UBS said it expects the U.S. House of Representatives to approve Trump's economic policy agenda, even though the nonpartisan Congressional Budget Office estimates that the bill will add $800 billion to the national debt over the next decade compared to the original House version. "But we believe that the United States still has the ability to manage its debt," UBS said. The report said the credibility of the Federal Reserve, the reserve status of the dollar, the depth and liquidity of the U.S. Treasury market, the Fed's balance sheet holdings, and bank capital supervision may all help fill the deficit. (Jinshi)