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Prioritizing which US bills to pay would be 'chaos': Lew

Last Updated: Thursday, October 10, 2013, 23:12

The Obama administration said on Thursday that a looming US default would hit everyone from Social Security pensioners to bondholders and urged Congress to raise a cap on government borrowing to avoid a crisis.

Global stocks and bond yields up on hopes of US debt deal

Last Updated: Thursday, October 10, 2013, 22:24

Global stock markets and US Treasuries yields surged on Thursday on the first signs of progress towards ending the budget and debt limit deadlock that could cause a historic debt default by the United States.