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.

If government data on the economy is unreliable, then the Fed will have to make major policy decisions with greater room for error. That's not to mention potential revisions to the downside during future releases that could hurt investor sentiment.

Politicians are playing a game of chicken under the assumption that our government will never default and that the last-minute agreement will put the current strife to rest for at least a few months. This mismanagement of fiscal policy puts even more strain on monetary policy and the U.S. dollar.

The negative impact on sentiment and fourth-quarter economic data will reverberate for many months after, much like the months of volatile trading after the downturn in August 2011.

At the time of publication the author had no position in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Andrew Sachais' focus is on analyzing markets with global macro-based strategies. Sachais is a chief investment strategist and portfolio manager at the start-up fund, Satch Kapital Investments. The fund uses ETF's traded on the U.S. stock market to gain exposure to both domestic and foreign assets. His strategy takes into consideration global equity, commodity, currency and debt markets. Sachais is a graduate of Georgetown University, where he earned a degree in Economics.

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