real-time news and commentary for investors
Monday, Oct 7
Stock futures fall as D.C. stalemate looks worse
- Stock futures are off sharply (S&P -0.8%), as the lack of any semblance of progress in reaching a deal on the government shutdown or the debt ceiling creates an unsettling backdrop to begin the week.
- Weekend interviews with politicians and Treasury officials has increased anxiety among investors that the looming Oct.17 debt ceiling deadline starts to look less firm.
- Ironically, the Treasury market is benefiting; the 10-year note is up 9 bps with the yield slipping to 2.61%. In fact, most government bond markets have attracted buying interest in a safe-haven trade.
- Overseas markets are broadly lower.
- Still ahead: consumer credit.