As we noted last night [3], finally, it appears that the resolution to the debt ceiling, now due to hit in one week, will be a 6 week can kicking to late November, early December so the whole thing can repeat again, while the government shut throughout according to the GOP proposal, which also means no nonfarm payroll reports for September, October and November:
- *HOUSE REPUBLICANS SAID CONSIDERING CLEAN 6-WEEK DEBT-LIMIT BILL
- *REPUBLICAN LEADERS TO PRESENT PROPOSAL TO MEMBERS TODAY
- *U.S. GOVERNMENT WOULD REMAIN CLOSED UNDER HOUSE PROPOSAL
The USD and Treasury Yield are soaring, US equities are waking up slowly to the news but T-Bills remain unimpressed for now. Bear in mind this was originally reported on October 5th [4].
[5]