US stopgap funding bill advances in Senate, final vote expected on Wednesday
|Early Wednesday morning in Asia, the US Congress advances over the stopgap funding bill through December 11. While the current reserve will be exhausted by the end of September, policymakers are up for passing the next aid on Wednesday (US Time).
The temporary funding bill is anticipated to not have any extraordinary relief measures and is known to have only an intermediate solution while the policymakers jostle with the big stimulus plan.
Although there are little doubts concerning the passage of the stopgap funding, as the US government won’t prefer stopping their checks, any disturbances may add to the market uncertainty.
Market implications
While global markets are keenly waiting for the US presidential debate, up for crossing wires at 01:00 GMT, the news offers intermediate relief and helps S&P 500 Futures to part ways from mildly offered Wall Street. Though the actual passage of the bill is pending and there are other major issues to take care of, like the Presidential Election and the aid package, which in turn may dim the importance of the news.
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