Global Macro: Warning to Washington: Those Who Wait...
NEW YORK (TheStreet) -- The story seems redundant, but markets in the U.S. and abroad continue to focus on the looming debt-ceiling expiration and potential default.
Although the chances of actual default remain low, another weekend coming and going without a resolution is disheartening to financial markets.
Trading should be volatile this week after markets were bid higher last week on the premise politicians would reopen government over the weekend and as the Thursday deadline for raising the debt ceiling nears.
The issue facing the economy post-debt ceiling resolution is unreliable data for the Federal Reserve to work with. The Bureau of Labor Statistics already postponed releasing September non-farm payrolls due to government shutdown, and less data are being collected for October.Follow @AndrewSachais This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV