Senate Votes To End Government Shutdown: Stocks Surge To New All Time High

Update 2 and final: Shortly before 1pm ET, the Senate voted to advance a funding bill in an 81 to 18 vote, that will reopen the government, ending a three-day standoff that left federal agencies shuttered and hundreds of thousands of workers furloughed. Democrats agreed to advance a stopgap spending measure lasting until Feb. 8 after Senate Majority Leader Mitch McConnell promised to allow an immigration bill to reach the floor next month.

"After several discussions, offers and counteroffers, the Republican leader and I have come to an arrangement. We will vote today to reopen the government to continue negotiating a global agreement," Senate Minority Leader Charles Schumer (D-N.Y.) said ahead of the vote.

The three-week funding bill still needs to pass on a final up-or-down vote, but that is a formality now that the Senate has voted to end dilatory debate.

Schumer said McConnell has committed that if negotiators fail to reach an immigration deal before the stopgap spending measure expires on Feb. 8 “the Senate will immediately proceed to consideration of legislation” to protect Dreamers.

He said McConnell has promised that immigration debate “will be neutral and fair to all sides.” “Now there is a real pathway to get a bill on the floor and through the Senate. It is a good solution and I will vote for it,” Schumer added.

In other words, absent Trump caving on DACA - which is unlikely - the next government shutdown will take place just after midnight on Friday, February 9, which is that much closer to the debt ceiling X-Date...

* * *

Update: and there it is, the government shutdown is officially over after 2 and a half days.

  • SENATE DEAL REACHED TO END U.S. GOVERNMENT SHUTDOWN: SCHUMER
  • SCHUMER SAYS HAS COME TO AN ARRANGEMENT WITH REPUBLICAN LEADER MCCONNELL ON FUNDING BILL
  • SCHUMER SAYS THERE'S A `REAL PATHWAY' FOR DACA BILL IN SENATE
  • SCHUMER SAYS WILL CONTINUE NEGOTIATING IMMIGRATION LEGISLATION FOR 'DREAMERS'

Schumer's statement:

And so, the government will now reopen for another two and a half weeks, when we go through the same farce on February 8.

The reaction is clear - stocks and the dollar up, bonds and bullion down...

https://www.zerohedge.com/sites/default/files/inline-images/20180122_open4.jpg

The Dollar is spiking...

https://www.zerohedge.com/sites/default/files/inline-images/20180122_open3.jpg

As The Hill adds, Senate Democrats said they are accepting a deal with Senate Majority Leader Mitch McConnell (R-Ky.) for an immigration vote, clearing the way for passage of a bill to reopen the federal government.

McConnell early Monday promised to take up an immigration bill that would protect an estimated 800,000 Dreamers from deportation, under an open amendment process, if Democrats would agree to end the government shutdown.

Senate Minority Leader Charles Schumer (D-N.Y) said that pledge was enough for his caucus to accept a three-week government funding bill, which is now set to pass at noon.

"After several discussions, offers and counteroffers, the Republican leader and I have come to an arrangement. We will vote today to reopen the government to continue negotiating a global agreement," Schumer said.

If lawmakers aren't able to get an immigration bill as part of that larger agreement by Feb. 8, the Senate would then take up a separate bill and "the process will be neutral and fair to all sides," Schumer added.

The agreement likely ends a three-day government shutdown that began at midnight Saturday after Democrats voted to block a month-long House-passed stopgap that extended funding for the Children’s Health Insurance Program but did nothing to protect illegal immigrants who came to the country at a young age facing deportation.

* * *

And while markets rose on the news of the government shutdown, they have spiked on the news that the shutdown is over.

asd

 

asd

 

asd

* * *

Risk assets have caught a bid following a report from Talking Point Memo, according to which some 10 minutes before the Senate vote is due to begin about extending short term funding, Senate Democrats are set to accepting a deal to end the government shutdown in exchange for the promise of a vote on the DREAM Act in the coming weeks.

Subsequent headlines from Reuters appears to validate that we may be on the verge of a deal:

  • REPUBLICAN SENATOR FLAKE SAYS HE THINKS SENATE HAS ENOUGH VOTES TO MOVE FORWARD ON STOPGAP GOVERNMENT
  • DEMOCRATIC SEN. MANCHIN PREDICTS SHUTDOWN COULD RESOLVE TODAY
  • MANCHIN: TALKS `VERY POSITIVE,' GOVT COULD REOPEN LATER TODAY


As a reminder, DACA remains the most contentious issue preventing Democrats from voting to end the shutdown. According to TPM, three sources have said that the details of the deal aren’t yet clear but that a deal is "all but certain late Monday morning'.

“There’s a deal and the vote will likely have room to spare above 60,” one source told TPM.

CBS White House reporter Steve Portnoy adds that the votes to end the shutdown could be as many as 70.

Manchin, who is certain that a deal is done, tells reporters that there will be enough votes, while Sen. Bill Nelson said "you’ll see a resounding yes,” when the vote is called. Other Democratic lawmakers quoted by Bloomberg said they were making progress; Gary Peters says "feeling good" ahead of vote; Chris Coons says "encouraged" by statements Majority Leader Mitch McConnell has made and encouraged reporters to watch the upcoming vote

“You’ll hear from us shortly,” Senate Democratic Leader Chuck Schumer said heading to Senate floor.

Looking at markets, there has been a modest knee jerk reaction higher in the dollar, with yields ticking up in response and USDJPY rising above 111.00 in what appears to be a relief rally.

https://www.zerohedge.com/sites/default/files/inline-images/20180122_openm.jpg

Stocks are extending the dip-buying ramp...

https://www.zerohedge.com/sites/default/files/inline-images/20180122_openm1.jpg

Tags

Comments

knukles DavidC Mon, 01/22/2018 - 12:25 Permalink

Looks like Q was right about Schumer's WH visit; that he will be living in fear for the rest of his life.
Well golly gee.
What happened?

Use your imaginations, kiddies.
What happens when the Donald and his folks know Everything About You?
When you just had your innermost secrets told to you by somebody else?

Chuck is well represented in Q's posts.  Hmmmmmmm.............

In reply to by DavidC

JimmyJones BaBaBouy Mon, 01/22/2018 - 13:04 Permalink

So how did the RINO's sell us out to the Illegal Aliens? Give me the details, I am sure they did would just like to know what they did.  Should of listened to Trump and used the Nuclear option, the Dems would of done it in without hesitation.

#ReleaseTheMemo

I am tired of Q, it was fun to imagine that people behind the scenes are working hard to get the bad guys but its been over a year now, I want action not riddles.

This is by far the best report on the dirty deeds done by the FBI, OBama and Clintons to cover for themselves and harm Trump

http://dailycaller.com/2018/01/20/obama-administration-plot-exonerate-h…

In reply to by BaBaBouy

Sir Edge JimmyJones Mon, 01/22/2018 - 14:11 Permalink

.
(((Chuck Schumer )))...
"Schumer said McConnell has committed that if negotiators fail to reach an immigration deal before the stopgap spending measure expires on Feb. 8 “The Senate will immediately proceed to consideration of legislation” to protect Dreamers.""

.

American Legislation is for PROTECTING AMERICANS not illegal immigrants...  WTF ?

.
Edgey

In reply to by JimmyJones

rgraf Sir Edge Mon, 01/22/2018 - 17:33 Permalink

No, 'American' legislation is to protect the owners, not the serfs. The purpose of the vote is the carrot on a stick that works as long as the voters see the politicians as 'leaders', and not public servants.

In reply to by Sir Edge

ultramaroon knukles Mon, 01/22/2018 - 18:25 Permalink

Q also posted a photo of Mao yukking it up with some of his staunchest allies from the USA (an oldie but a goodie). It shows Anna Louise Strong (the American Communist spy who moved to China just as the Great Leap Forward was beginning) and W. E. B DuBois both flanking Mao Tse Tung. The Great Leap Forward caused the deaths of from 18 million to 55.6 million people, but Strong always wrote glowingly in defense of it.

W. E. B. DuBois, Communist founder of the NAACP, is shown to Mao's left. DuBois was visiting China from 1959 to 1963. The Great Leap Forward lasted from 1958 to 1962. DuBois and his wife Shirley weren't just tourists. They were aware of Mao's campaign of mass murder, just as Strong was.

Keeping in mind that Q doesn't toss off anything carelessly, What was he trying to communicate by posting this photo? Was he suggesting that  there are modern equivalents of Strong and DuBois who are willing to see millions in America die for the revolution? I don't know, but consider these articles: Strong and Du Bois "...went back to China during Mao's 'Great Leap Forward', denied the concomitant famine"

In reply to by knukles

Pure Evil knukles Mon, 01/22/2018 - 13:25 Permalink

“the Senate will immediately proceed to consideration of legislation” to protect Dreamers

 

Amazing! How about protecting tax payers? How about reimbursing us for the costs of raising these illegal aliens? Everything from public school expenses to medical to whatever welfare benefits the were allowed to use at our expense. Plus tack on a fee for being allowed to stay.

Fuck those assholes. Send them to live in Haiti. Conan O'Brian say's Haiti is a wonderful place to live.

In reply to by knukles

Hoffman Lenz nmewn Mon, 01/22/2018 - 14:49 Permalink

I hope that you are correct, nmewn. From the articles I've read here on ZH and elsewhere, Trump is slowly draining the swamp. But I don't like a lot of his 'friends' and I don't like some of his foreign policy decisions.
I just hope that him draining the swamp is not in preparation for the U.S. to have a (((swamp))).

In reply to by nmewn

bshirley1968 Gap Admirer Mon, 01/22/2018 - 12:40 Permalink

Well, imagine that, they want to keep their little game going, maintain their cushy jobs and incomes a little longer.

"Shut Down".  What a frickin joke!  They are never going to shut down.  They may play a little chicken, kabuki theater now and then.....but shut it down?  Never!  

What the hell would they do with their lives if they couldn't meddle in ours and live off our output?  What would frickin' leeches do without a host?

In reply to by Gap Admirer