Bank of America expects Congress to pass a continuing resolution and thus avoid a government shutdown on October 1.

BoA say, though, that its a 'close call':

  • situation remains fluid
  • likelihood of a shutdown, a brief one, is edging closer to 50%


This reminds me of that time Fitch downgraded the US citing:

  • repeated debt limit standoffs and last-minute resolutions
  • a steady deterioration in standards of governance
  • expected fiscal deterioration over the next three years

And everyone who had been screaming about the dangers of shutdown and debt default did a flip and laughed at Fitch. Two-faced I guess.

ps. the downgrade was 6 weeks ago:

fitch shutdown 15 September 2023