Futures Focused on Washington as Shutdown Continues

REPLAY VIDEO
Your next video will start in
Pause
  • Info

  • Comments

  • VIDEO TEXT

Oct. 7 (Bloomberg) -- Bloomberg's Julie Hyman and Gareth Ryan, managing director at IUR Capital, put futures in focus with a look at how the government shutdown is impacting the futures market in "On The Markets." They speak on Bloomberg Television's "In The Loop."

The shutdown going to stop?

What are we going to see with the debt ceiling has been awaiting one futures.

Any end in sight to the downward action we are seeing?

Obviously the s&p futures ending spx cash index is driven by one thing that only, and that is what is going on in washington but the jet ceiling.

House speaker john boehner's comments yesterday really did not help in terms of confidence that we will get a solution to this problem immediately, within the next couple of days.

We'd like to thank by the end of this week we would have made some progress on the situation in washington.

The focus has been on washington.

A part of that has been because there is a vacuum elsewhere.

In other words, with the government shutdown, we are not getting a lot of economic data and did not get the jobs report friday, but we will be getting micro data in the form of earnings with they're really going to start tomorrow in earnestalcoa -- in earnest.

Alcoa is reporting.

Will we get much market reaction with everyone concerned about what is going on a d.c.? put it this way, if we deny the problems in washington earnings would be the focus for everyone.

I would like to think we will get a rally, as i mentioned, if and when we have some resolution in washington.

Then we can get down to the real business of what investors and traders are looking at, and that is obviously earning starting tomorrow.

How do you trade this, when there is something that is so dominant going on, that everyone is looking at?

How do you get an edge when everyone is looking at the same thing?

We have been up in this range for the s&p for about two weeks.

Overall for our clients we have been quite risk-averse since the end of september.

Really we are not ready to put any new money to work until we can get some kind of direction for the fourth quarter.

I would like to think we get a rally in to the year and for the s&p, moving back over 1700 pretty soon, i expect, but for the near-term, being cautious, i think, is the best for us.

Risk aversion is the name of the game.

Gaereth, thank you so much.

Appreciate it.

Have a great week.

That doesn't for on the markets right now.

More than 30 minutes.

And "market makers" is up next.

?

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change