Risk of Another U.S. Government Shutdown: Tom Essaye Quoted in Barron’s
Stocks Fall to Start a Busy Economic Week
Sevens Report Research’s Tom Essaye notes markets are digesting Friday night’s news that Moody’s cut its outlook on U.S. credit to negative, though it kept the rating itself. Markets may also react to rising tensions in the Middle East as the U.S. launches airstrikes in Syria.
“Beyond today, though, in addition to the economic catalysts this week, risk of another U.S. government shutdown is rising as there needs to be a short-term spending deal by Friday to avoid a shutdown,” Esaye writes.
“So, any progress on that front today will help markets, while any negative headlines will likely provide a small headwind.”
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