Most large traders expect the situation will be resolved without a "default." The fear level doesn't seem nearly as elevated as it was during the previous debt-ceiling debacle back in the summer of 2011. So, if we didn't default then, its highly unlikely that we will default now. One can easily argue about the inadequacies in Washington, but most doubt our nation’s political leaders will be SO reckless as to threaten what is the very foundation of the global financial market.
I continue to look for bargains in the market on the breaks. With the government shutdown still in full-swing, lack of data is causing investors to pause and volume to dry up. Increased volatility is ahead, therefore, be extremely cautious!
USDA officially announced Friday's report will be delayed. Obviously with Washington still closed no one seems to know when the information will be released, but I have to imagine it will certainly bring into question the validity, accuracy and timeliness of the data.