Monday, October 14, 2013

Tuesday: NY Fed Manufacturing Survey

by Bill McBride on 10/14/2013 09:31:00 PM

From the NY Times: Senators Near Fiscal Deal, but the House Is Uncertain

Senate leaders neared the completion Monday night of a bipartisan deal to raise the debt ceiling and end the government shutdown ... Negotiators talked into the evening as senators from both parties coalesced around a plan that would lift the debt limit through Feb. 7, pass a resolution to finance the government through Jan. 15 and conclude formal discussions on a long-term tax and spending plan no later than Dec. 13 ...

As they drafted their deal, Senate negotiators in both parties were hoping that House Republican leaders would have no choice but to let a bipartisan agreement come to a vote, even if it could pass only with votes from Democrats and a minority of the Republican majority.
Unfortunately this is the reference week for the BLS - the week the data is gathered for the October employment report -so the data might not be gathered with the government still shutdown.

• At 8:30 AM ET, the NY Fed Empire State Manufacturing Survey for October will be released. The consensus is for a reading of 7.0, up from 6.3 in September (above zero is expansion).