US To Vote On Bill Increasing Debt Limit For Six Weeks

Published 10/11/2013, 06:22 AM
Updated 05/14/2017, 06:45 AM

Market movers today:

In the US the House is expected either today or Saturday to vote on a bill that will temporarily increase the debt limit for six weeks without specific conditions for a framework for negotiating budget cuts. This is a big concession from the Republicans. The House will also be in session over the weekend working on a proposal for a temporary funding bill to end the partial government shutdown. At the moment it looks like there will be an agreement possibly even well ahead of the 17 October deadline albeit this is only a temporary fix.

In the US retail sales and producer prices will not be released today due to the partial government shutdown. Most interesting release today will be the University of Michigan consumer confidence, which will give us the first indication on how much the government shutdown and political uncertainty have weighed on consumer confidence.

The G20-finance minister and central bank governor meeting in connection with the IMF and World Bank annual meeting in Washington will conclude today. A press briefing is scheduled for 19:30 CET.

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