Policy-makers worldwide oscillated between hope and confidence today that U.S. lawmakers will break an impasse over the debt ceiling that threatens to trigger a default and upend global financial markets, Reuters reported.

Asia, which holds close to $3 trillion in U.S. government debt, has a powerful vested interest in Washington finding a workable compromise. Policy-makers and economists there expect lawmakers to strike a last-minute deal to avert a crisis, Reuters said.

The political brinkmanship hit world stocks today and pushed money into safe-haven gold and Swiss francs, ending a brief relief rally over Greece’s second bailout package, although there was no sign of panic, Reuters said.

“Those in direct charge of reserves operations must be more nervous than before, but nobody thinks Americans will choose suicide when they have known solutions,” said a senior official at the Bank of Korea, who spoke on condition of anonymity.

Fresh from pulling together a new bailout of debt-ridden Greece, Berlin also expected Washington would raise its debt limit.

“We have … followed the debate in America with great interest, and we continue to remain confident that a compromise can be reached,” German government spokesman Christoph Steegmans told a news conference.

Asian sources said finding a solution was primarily a matter of mustering political will rather than securing rescue funding.

“They will definitely reach a compromise,” said Xia Bin, an academic adviser to the People’s Bank of China. “Don’t worry too much about it.”

China is the largest foreign owner of U.S. government debt, with $1.16 trillion as of May, so a vote of confidence from Beijing carries significant weight, Reuters said.