Stocks are continuing to fall with the S&P 500 down 8 points.
There is talk that Boehner and Republican House members may (or have) rejected the Senate plan and will run with their own plan. Bloomberg has a headline saying ‘Boehner said to tell Republican House will take up own plan’.
Reuters meanwhile reports ‘House Republican leaders hope to pass debt limit, government funding plan on Tuesday – Senior House aide’. House Republican leaders will speak at 10 am ET (1400 GMT). The rumored vote will be tonight and if it’s spearheaded by House Republicans it is something different from what’s out there and Democrats won’t be happy. Details should be trickling out any time.
This has the potential to get ugly. Gold is rallying but JPY is still watching with a skeptical eye.
