Goldman's Jan Hatzius believes the odds of a government shutdown next week are fairly low, but rise to around one in three if the debate extends into May. A shutdown at the start of the next fiscal year, in October, is a greater risk in their view.
European stocks rebounded after the biggest one-day drop since November, alongside S&P futures, while Asian equities posted modest declines after yesterday's weak US close. Gold and yen slid, while the dollar gained on the latest Mnuchin comments to the FT according to which Trump was "absolutely not" trying to talk down the dollar.
Bonds have gievn up, comodities have given up, inflation expectations have given up, bank stocks have rolled over, and even 'soft' data is starting to rollover... still the 'rally' is in tact, it's just a fleshwound according to the business media...
After a kneejerk move lower on headlines regarding a statement, Cable is surging now that UK PM May has surprised the nation with a snap election on June 8th, since Conservatives could enhance their parliamentary majority given the vast lead they currently hold in polls; meanwhile cable is surging as uncertainty over Brexit negotiations wanes.
GBPUSD is at its highest since early Feb on the news - breaking aboive its 200-day moving average for the first time since Brexit.
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Despite leading in the polls for Round One, The Express reports that a monumental computer blunder could cost Marine Le Pen the French general election as 500,000 citizens living outside of France have the chance to vote twice.
The election has become extremely close with just 4.5 percentage points separating Macron, Fillon, Mélenchon, and Le Pen...