Over the weekend, the House passed another continuing resolution, which will see the floor of the Senate on Tuesday morning. Therefore we will probably shut down our government for at least a little while. The markets obviously don’t like this path and have such shown displeasure by selling down close to 1% so far. This is just beginning of the volatility we spoke about over the last few weeks. The debt ceiling is truly the big fight that has yet to be resolved. We have two weeks to go and there is not even a discussion on the table. This first little shutdown may push the parties to come up with an agreement on the debt, and that would be a good thing. Time to buckle down, but know that when this is all over, the market is likely to bounce back quickly.
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