JPMorgan Chase warned: the probability that the United States will reach X Day is as high as 25% and is still rising.

(JPMorgan Chase warns: the probability of the United States reaching Day X is as high as 25% and rising) JPMorgan said that if the debt ceiling agreement is not reached, the United States has about a 1/4 chance of running out of government funds on the so-called X day, and this possibility is still rising. "We still think the most likely outcome is to sign the agreement before the X day, but we expect the probability of that date to be around 25% and rising if the upper limit is not raised," JPMorgan Chase chief US economist Michael Feroli said in a research note to clients on Wednesday. "in the latter case, we believe that the Treasury is likely to give priority to principal and interest payments," he wrote. "while this will avoid a technical default, there will still be some negative effects, including a possible downgrade of the US credit rating."