As we all know the solution finally came. And I am pretty happy to have been cautious.
That was a risk that, as an investor, was not worth taking.
Now the next dates will be 15 January (US Gov shutdown) and 7 February (Debt ceiling).
What is most important is that it is clear that there is an ongoing war within the Republican Party that will shape the outcome of future debate.
The moderate pro-business Republicans are showing a more confronting stance against the small-Government Tea Party side. I was waiting for this as the results of the least election made it clear to me that the Tea Party wind is alienating the appeal of the Republican Party to the average US republican voter and now also big business.
The development of this battle will shape the future of any future budget battle.
Now the market has cleared this hurdle and will keep its “climb a wall of worry” (going up within scary news) stance…probably a lot of talk re February Debt Ceiling and assessing the damage done by these weeks of uncertainties.
Wow spot on…now on Bloomberg
investorpolitico 