Are you keeping your eye on the government shutdown?
While TheStreet's Martin Baccardax believes that some of the coverage on the partial shutdown is overdone, he still thinks that investors should be paying attention.
"The fact that we may not know exactly how some economic data points are playing out because of the government shutdown that could change the tone and the tenor of the way that the Fed communicates with us over the next week or so. And that of course could confuse investor perception about where the central bank is headed," Baccardax said. "So from my perspective I see that as the more important component of the shutdown alongside the political machinations. But nonetheless I still feel it's getting a little bit overplayed."
Baccardax discussed the shutdown on TheStreet's Trading Strategies podcast.
"If we are looking at two to three weeks in terms of shutdowns we have the concern over the day of delay and also what I think might be underrated at the moment might become an issue going forward is the fact that you could have significant delays on tax rebates for a whole host of Americans and that could have spillover implications into consumer spending as well," he said.
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