Chillin' out till it needs to be funded
Thats all it comes to, in fact a poll on Marketwatch says 3000 people think that this is the right time for the grand bargain instead of letting that debt ceiling go by every time. That means its time for Thor’s hammer, or your and mine wife needs that Fendi bag so, let’s keep some lemons and lemonade for Huff Post.
Of course the Tea party has been waiting around with the lemons to scratch anything and everything in Congress since the session began and that probably means the grand bargain may still not count for the GOP and continue to make sunshine for America’s now favorite President Barack Obama as the debate progresses into a lemon melee again.
However, Economic data speaks for itself and the BLS report aside, the shutdown is as much a farce as last time and despite government cutbacks lasting five years it is still just jobs that are losing out and Economic production, if you could separate the two is very much untouched.
The levered American Home is not interested even as Crude starts pumping in anticipation of increasing demand and inflation is in control no longer bordering on as without any Taper, yields even think there is enough time to crawl back into the burrows waiting for groundhog day as US Bonds never seem to go out of style and now the search for dividend and the + 3% yield on 20 years and more or other high quality corporate debt allows for robust markets.
Marketwatch again, also fearlessly doles out the reasons you should have not let Tesla IPO go and you would not let Twitter go either. The G.19 Consumer credit report later in the day is unlikely to show growth in revolver credit and I am going to put it out there that the markets , while resuming interest in banks regardless may well be scurrying away from positive markets if revolving credit does increase, as Services PMI goes unseen into the netherworld and the Jobs Report probably looked barely positive if the data was completed in time.
However same store sales are positive and even like comparisons to year ago data for the pr Holiday rush will remain positive The UK Bank reforms are going through as expected and US Banks may thus want more from the Continent and Eurobonds than the staid London business with heavier taxes
Be it the Canadian trade Data or the Australian Consumer sentiment, nothing is on hold for the shutdown per se but as the October FOMC passes by this week, it looks unlikely that anything except the Taper and Holiday sales will revive the business as people still prepare more carefully nurtured savings for the holidays. European data this week including Industrial production numbers from UK and German y and the Portugese Trade Balance are unlikely to raise eyebrows but continue to deliver a limited hope still available to pass on before the tough times strike again as credit conditions remain uneasy and the Euro remains the most speculated up currency of the year.
China’s reasons for pressuring US in the meantime also include a large number of wealthy Chinese missing their weekend shopping at Tiffany’s as larger tourist sots , state – run attractions close down for the shut down