Brace for Impact

Playbook: “We should all begin to focus our attention on the end of this month and the fiscal stimulus/government funding mess that awaits Washington — because it is massive, can easily go off the rails and is very far from being figured out.”

“As we’ve mentioned a few times, government funding runs dry Sept. 30. Because Congress is Congress, and the Trump White House is the Trump White House, Covid relief remains unfinished as well.”

“These two discussions — government funding and Covid relief — will be paired this month, and it seems almost inevitable that they get wrapped into one package, which should pass by the end of the month. Our confidence level is low that this will happen without major turbulence, and perhaps a government shutdown. In other words, this is real, so brace for impact.”