I am posting a very brief blog here before the trading day closes for the benefit of active traders pondering their end of week strategy. I am not changing any of my positions today (i.e. still standing aside all of the markets).
The standoff between Republicans and Democrats in the U.S. Congresss over the funding of Obamacare continues today with neither side showing any indication of compromising their position. The U.S. government remains in a state of partial shutdown even as a more serious conflict is fast approaching : to raise or not to raise the U.S. debt limit. An ineffective resolution of this issue could have a very serious impact on financial markets. The U.S. Treasury Department has stated that the debt ceiling must be raised by Oct.17 to avoid a potential default on the U.S. debt.
I will post a longer blog this weekend with more detail on the financial markets. Many of them are poised now to make strong moves and are taking their cues from the above unfolding political scene.