McCarthy expects US government debt default to be avoided

A top Republican leader voiced confidence that the United States government would avoid a debt default.

Amid tense negotiations, the speaker of the U.S. House of Representatives, Kevin McCarthy, told CNBC in an interview: "I think at the end of the day we do not have a debt default."

In response, as of 1347 BST, the yield on the benchmark 2-month U.S. Treasury bill was roughly unchanged at 4.959%.

The yield on the 1-month bill meanwhile was one basis point lower to 5.512% and that for the three-month bill was at 5.205%.