Wall Street's Debt-Ceiling Dread Resurrected by Shutdown Strife
- Washington’s ability to compromise is once again in question
- Dollar, Treasuries won’t have haven appeal of past, BofA says
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The looming U.S. government shutdown is beginning to worry Wall Street. Just not for the reasons you might think.
Traders aren’t really losing much sleep over the prospect of furloughed bureaucrats inside the Beltway. Instead, market veterans are on edge because of what the debacle signals about Washington’s inability to compromise ahead of the early March debt-ceiling reinstatement, after which the Treasury will need to resort to extraordinary measures to pay America’s obligations.