The US government shutdown didn’t happen again, but patience wears thin

TO THE great surprise and relief of stock traders and politics observers the world over, the US government did not blow itself up in the latest budget debate.

Stocks are bound to rally in relief as the government averted a shutdown, with US futures already higher in Asian trading hours. But the continuing resolution that was signed late on Saturday (Sep 30) will only keep the US government open for another 45 days, meaning the celebrations may be short lived.

It may have cost US House Speaker Kevin McCarthy his job, but he struck a compromise deal with Democrats, agreeing to continue all funding at current levels, excluding controversial Ukraine aid.