Wed, Mar 4, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

What might be avoided if the US government shutdown comes to an end

Tuesday, October 15, 2013

amb
John Brynjolfsson
Benedicte Gravrand, Opalesque Geneva:

A political dispute was at the source of the partial shutdown of the American government, which started two weeks ago. President Obama put forward a reform program for US healthcare (the Affordable Care Act, or Obamacare), which Congress approved. There were legal challenges but the program was endorsed in court. But there was strong opposition to the program, mainly from the Republican Party. Opponents added amendments to legislation funding government operations, so that legislation could only be passed if the reform program was blocked or delayed. Opponents got their way through the blocking of funding of the government, and as supporters of the reform refused to give in, the legislation to fund the government failed and the government shut down.

The shutdown brought on the issue of the debt ceiling, a ceiling on the amount of debt the US government can have, which only Congress can vote to increase. The Republicans are currently using this power to protest against Obama’s healthcare reforms, by not voting for an increase. The ceiling is currently set at $16.7tln, which was hit in May this year. Since then, according to the BBC, the US Treasury has been scrapping together all that it can to keep the government funded. Reserves are estimated to run out on October 17th. If everything stays the same, by the end of the month, the government may be forced to delay ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Outlook - Philippe Jordan predicts 'alternative beta' to displace hedge funds, Stan Druckenmiller says Europe, Japan stocks will outpace U.S.[more]

    Philippe Jordan predicts 'alternative beta' to displace hedge funds From Investordaily.com.au: The disappointing performance of hedge funds in recent years is a result of "too much money chasing too little alpha", argues Capital Fund Management. Speaking to InvestorDaily, CFM partner Phi

  2. Investing - Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched, Myriad hedge fund sold bulk of its Alibaba stake last year[more]

    Seth Klarman of Baupost outlines his investment process as major stock market indices are stretched From Valuewalk.com: As hedge fund manager Seth Klarman, leader of the $28 billion Baupost Group, reviews 2014 performance and considers investors gained near 7 percent on the year, he cons

  3. Investing - As rig count falls, hedge funds pile into long crude futures, Parus tactically shifts long/short exposure ratios, Mario Draghi outflanking Kuroda as bearish euro bets surge, Prime Capital’s 500.com bet derailed after 41% drop[more]

    As rig count falls, hedge funds pile into long crude futures From 247wallst.com: In the week ended February 27, the total number of rigs drilling for oil in the United States came in at 986, compared with 1,019 in the prior week and 1,430 a year ago. Including 281 other rigs mostly drill

  4. Opalesque Exclusive: SEC’s Mark J. Flannery warns hedge funds against valuation misconduct[more]

    Komfie Manalo, Opalesque Asia: Securities and Exchange Commission chief economist and director of Division of Economic and Risk Analysis (DERA) Mark J. Flannery has warned of the risks posed by market misconduct, particularly in the true valuation of assets by hedge fund managers. In his

  5. Dymon Asia's $3bn macro hedge fund lost 10.45% in January[more]

    From Reuters.com: Dymon Asia's $3.1 billion macro hedge fund lost 10.45 percent in January, performance data seen by Reuters showed, a month where many peers lost heavily after a surprise rise in the Swiss franc. Singapore-based Dymon, set up by Danny Yong, a former founding partner and chie