What happens to the market during Debt Ceiling Votes?

91 plots of the 20 days prior and after for the S&P 500

I’m not going to include too much commentary. Just an explanation of what the subplot is.

It measures close to close starting 20 trading days prior to the trading day on which the debt ceiling was raised (or the first day after).

And continues until 20 days after the debt ceiling was raised.

It measures the cumulative change during that time frame.

Please note we used the dates provided by this article from Wikipedia. It includes the days in which the Debt Limit was suspended and in which it was reinstated in this dataset.

https://en.wikipedia.org/wiki/History_of_United_States_debt_ceiling

Hopefully the image is scalable, as I think the results are definitely worth analyzing carefully.