IIFT Daily Note with Peter Brown

Government shutdown in the US

Posted by:  |  Time: 7:34 am  |  Topic:
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Well it happened. The American people must be furious. Budget impasse leads to a shut down and thousands laid off without pay. All that will happen here is an agreement will be reached in time. Why not now, politicians have the ability to cause major damage through brinkmanship. The same is happening in  Italy.

The market is now in limbo. It is a question of how long this impasse will last. That is anyone’s guess. How negative the market takes it we will see this afternoon.

In the meantime there are PMI’S this morning. This should determine morning direction.

Tech levels may hold today and we might not get a big outside day as some are expecting.

 

Euro  1.3580  1.3480   S&P  1684  1672  1666

 

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