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Futures up 1% on signs of movement in budget standoff

  • Stock index futures are ahead by 1% on signs of movement in the budget/debt ceiling standoff, with House GOP leaders preparing to head to the White House today. A WSJ editorial by Rep. Paul Ryan yesterday laid out a framework for a temporary increase in the budget cap.
  • Europe's up about 1.5% and Asia was moderately higher overnight.
  • Locked in a tight range in the low-to mid 2.60s for the last couple of weeks, Treasury yields break out to the upside with the 10-year up 5 bps to 2.71%.
  • Index ETFs: IVV, SPY, VOO, RWL, SFLA, SSO, UPRO, SDS, SPXU, SH, EPS, RSP, BXUB, BXUC, BXDBDIA, DDM, UDOW, DXD, SDOW, DOGQQQ, QQEW, TQQQ, QID, SQQQ, PSQ, QLD, QQQE.
Comments (7)
  • bcv166
    , contributor
    Comments (17) | Send Message
     
    The sausage machine at work.
    10 Oct 2013, 07:27 AM Reply Like
  • june1234
    , contributor
    Comments (2499) | Send Message
     
    Hope is good. I like hope. You know they're going to take this all the way to the 17th then announce some deal so both sides can save face
    10 Oct 2013, 08:13 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (3518) | Send Message
     
    Hum, but the market will price in now that it will get solved on 17th, and just keep climbing?

     

    Or will there be more volatility between now & then?
    10 Oct 2013, 09:14 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4009) | Send Message
     
    Deal or no deal, the day of reckoning is coming. Default now and suffer the pain yourself. Default later and visit it upon your heirs. The choice was made long ago. The unborn don't vote.
    10 Oct 2013, 08:59 AM Reply Like
  • Left Banker
    , contributor
    Comments (1833) | Send Message
     
    And here I am: the guy who woke up this morning with the clear plan of investing some of that idle cash if those idjits in DC kept pushing things down. I really thought we'd have a repeat of yesterday and was looking forward to it.
    10 Oct 2013, 09:38 AM Reply Like
  • Andysud
    , contributor
    Comments (183) | Send Message
     
    Fear not Left Banker. The Tea Party will certainly do something incredibly stupid again leading to a market plunge. They can't help it. It's who they are.
    10 Oct 2013, 10:21 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4009) | Send Message
     
    Wait until the Dems are out of power again. They will resort to the same tactics. The parties need their ideologues and they are thankful for your support. I would write more, but my favorite team is getting ready to play and I need to cheer them on.
    10 Oct 2013, 12:08 PM Reply Like
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