Church Brewing: where the customers are the congregation and the choir | SaltWireA six-week reprieve for U.S. government funding that keeps public services functioning through mid-November has been enough to give stocks and bond yields a lift as the final quarter of 2023 gets under way.
While positive for the economy in the short term, the temporary extension only keeps the government functioning to Nov. 17, McCarthy faces attempts by right-wing factions to remove him and concerns about the stop-go nature of the U.S. system of public financing will weigh on its only trip-A credit rating.
Goldman Sachs analysts, however, think the risk of another shutdown in November is slightly less this time around and reckon some progress on a strategy for full-year spending bills is possible from here. The dollar was higher too, with the dollar/yen exchange rate probing just under the 150 level many suspect will sound intervention alarm bells at the Bank of Japan.
Another aspect of the averted government shutdown for markets is this week's September U.S. employment report will be released after all - a mixed blessing for bonds given the traditional volatility surrounding the release and the fact ongoing labor market tightness is keeping the Fed hawkish.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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