NEW YORK (Reuters) – U.S. government shutdowns, which hurt federal workers who go on furlough and taxpayers in need of federal services, have not caused major disruptions to financial markets in the past.
Investors expect nothing different from the shutdown that could begin on Saturday.
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“It’s more a political event than an economic one,” said Alessio de Longis, portfolio manager with OpperheimerFunds’ global multi-asset group in New York. “We have been in this situation before.”
On Friday, Washington lawmakers and U.S. President Donald Trump were pushing against a midnight deadline to reach an agreement to keep the government open in the effort to avert a shutdown that last occurred more than four years ago.
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Wall Street has brushed off the increasing likelihood of a shutdown. The three major U.S. indexes rose...
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