Skidding.
Note: this report was completed before confirmation of the debt ceiling deal reached by negotiators. See my subsequent post: “Debt Ceiling Update”.
Stocks skidded lower most of the week, giving back a lot of the previous week’s gains, as there was minimal reported progress towards a debt ceiling deal between the White House and Congressional Republicans. Talks seemed to collapse and restart over and over again with negotiators constantly talking out of both sides of their mouths so as to make absolutely nothing any of them said ever remotely believable.
We are now just days away from Treasury…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.