CREDIT DAYBOOK AMERICAS: Debt Talk Progress; Deere Note Sale

President Joe Biden and House Speaker Kevin McCarthy vowed to continue negotiations to avert a US debt default after meetings on Monday yielded no deal. Deere filed to sell $36 billion of medium-term notes through John Deere Financial.

• The spread on the Markit CDX North American Investment Grade Index, which declines as credit risk drops, widened half a basis point to about 77.3 as of 7:20 a.m. New York time
• Treasury Secretary Janet Yellen warned it’s “highly likely” her department would run out of sufficient cash in early June and that default could come as soon as ...