BofA shifts debt-ceiling deadline estimate as Treasury market reflects worries over U.S. borrowing limit

Worries over a looming deadline to raise the U.S. debt ceiling are rippling through the Treasury bill market, according to BofA Global Research. 

BofA strategists said in a rates research note Friday that they’ve pulled forward their estimate of the so-called X-date, when the U.S. government risks hitting its borrowing limit and technically defaulting on its debt obligations, to August 1. The revised estimate “could slip to late July,” they said, from their previously anticipated X-date of mid-to-early August.

“We…