The cost of insuring against a US default hits an all-time high as debt ceiling deadline looms

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US President Joe Biden.

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Debt ceiling fears push the cost of insuring against a US government default to highest level since 2008 crash

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US president Joe Biden and speaker of the house Kevin McCarthy.

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Markets are growing nervous over the prospect of a US default as debt ceiling deadline looms

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Dow tumbles over 300 points as Deutsche Bank jitters reignite Europe's banking concerns

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(Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

Silicon Valley Bank's failure might just spark a faster housing rebound

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Can you believe it's only Thursday? Phil Rosen here. The sheer volume of financial news this week is enough to fill a very thick book — but if it's okay with you, today we'll keep it to a single newsletter. 

One thing I'm thinking about this morning: Elon Musk said he sees similarities between the Silicon Valley Bank collapse and the 1929 Wall Street crash.

The probability of a catastrophic US debt default has more than tripled since the start of the year, MSCI says

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