The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets

Overall, Goldman expects the Treasury will supply the market with more than $1 trillion of T-bills on a net basis this year. That will pull liquidity out of financial markets. In a separate note, analysts at Bank of America recently said that would have an equivalent impact on the economy as a Federal Reserve rate hike of 25 basis points.