US Treasury yields fell ahead of a vote in Congress on the proposed debt ceiling bill. President Biden and House Speaker Kevin McCarthy reached a deal to raise the nation's debt ceiling, avoiding a potential government default. However, the presidency must still gain Congress' approval before the June 5th deadline. Investors are closely watching the outcome of the debt ceiling vote and taking cues from fiscal data in an uncertain economic climate plagued by rising interest rates. The bill, called the "Fiscal Responsibility 5 Act of 2023", allows the government to borrow more and spend on social welfare schemes, but also calls for cuts to other spending excesses in other areas.