Bank of America expects the debt ceiling to become binding as early as February 2027, with the "X-date" falling in November.

Bank of America strategists Katie Craig and Mark Cabana said in a report that the Treasury General Account balance is expected to be higher than previously anticipated, which will bring forward the time when the debt ceiling becomes binding and when the Treasury exhausts its maneuvering room. The strategists now expect the debt ceiling to become a hard constraint in February 2027, versus a previous expectation of May. They maintained their forecast for the "X-date" of November 2027, but believe the Treasury could "uncomfortably approach" that date as early as August 2027.