Debt ceiling worries are growing in financial markets. Here’s what Pimco expects to happen.

Congress and the White House are likely to reach a deal to lift the U.S. debt ceiling, but only at the last minute, according to bond giant Pimco.

With the standoff expected to go down to the wire, investors should brace for further market volatility before a debt-ceiling deal can be reached, said analysts at Pimco, which manages $1.8 trillion assets.

Analysts…