Perhaps the shutdown is the only way they can tackle their debt mountain. Take out the entire public sector: administration, government, benefits. Savings would be substantial. Come back in a couple of years’ time and see what needs mopping up.
Seriously though, the Republicans will come out of this a lot worse than the Democrats as they are seen to be the ones pushing for it. Straw polls suggest support for GOP has fallen to one third of pre-budget talks levels.
It will all be sorted in the end as it always is.
With New York just coming on line I wonder if the cancellation of scheduled USD data releases today will mean some will be exposed if they’ve taken a position on expected volatility/movement based upon release of the data. In which case will they leave things as they are and wait and see, or move to cover their positions?
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