Debt Ceiling

Harvey Destruction Prompts Goldman To Cut Government Shutdown Odds

"Recent events have lowered the odds of a government shutdown or a delayed debt ceiling hike but have also increased the number of possible scenarios, complicating the legislative outlook over the next couple of months. At this point, we peg the probability of a shutdown in early October at 35%, down from our prior view of 50% over the last couple of weeks.""

World Stocks Rebound, Dollar Rises As Korea Nuclear War Fears Recede

S&P futures are higher in early Wednesday trading, alongside Asian stocks and European bourses, both solidly in the green as the EURUSD drifts below the 1.20 "redline" while the dollar rebounds off a two and a half year low following the US "measured" response to North Korea’s missile test, which soothed jittery investors who now turn their focus to US economic data.

The Cleanest Shirt Is Actually Pretty Dirty

"Investors piled into America in the initial stages of his Presidency, but have spent the next six months exiting... The weakness of the US stock market has been masked by a falling US dollar... if the US dollar rallies from here, it will not be good for US stocks."

How The Deep State Ties Down Trump

"Russia and China are right to be thinking 'worst case' and how to minimize their exposure to any American cataclysmic descent into political turmoil – and possible violence. "

Primary Dealer Bid Surges In Poor 2Y Auction

While the high yield of the just priced 2Y auction came "on the screws" at 1.345%, below last month's 1.401%, but above the six previous auction average of 1.305%. and exactly where the When Issued suggested today's auction of $26 billion in 2Y notes would price, the internals were decidedly weaker than the stop out would suggest.