Debt committee: Market reaction a big unknown
November 17th, 2011
08:35 AM ET
2 years ago

Debt committee: Market reaction a big unknown

NEW YORK (CNNMoney) - Given how volatile markets have become, predicting how traders will react to the congressional debt committee next week is a dicey undertaking.

Two themes emerged in conversations with stock and bond strategists. First, Wall Street never expected much from the committee, thanks to the disastrous debt ceiling debate. Second, markets don't expect lawmakers to make meaningful decisions on fiscal reform until after the 2012 election.

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Filed under: Congress • Debt • Deficit • Deficit commission
soundoff (3 Responses)
  1. Rudy NYC

    I understand their concerns over market reaction, which cannot be ignored. However, shouldn't they be placing a higher priority on how The People will react? They seem more worried about their friends than their own dependents, their constituents.

    November 17, 2011 08:41 am at 8:41 am |
  2. Keith in Austin

    AWOL (Away Without Leadership)
    Throughout the months of America's debt crisis, our POTUS has been "voting absent". The mere fact that a partisan super committee has assembled without ongoing presidential influence is despicable. Historically, in times of crisis, American Presidents with rolled up sleeves, were at the helm. Lincoln, Roosevelt, Truman, Kennedy just to name a few! Today, our Campaigner in Chief chooses to delegate and worse yet, any budget cuts that DO occur, can't take affect until AFTER his next election! We have a President that campaigned as The Great Uniter, open government with total transparency, no more Lobbyists blah blah blah... Now look at our Country! 15 Trillion in debt., Occupy turmoil on our city streets, Obamacare spawned behind Democrat closed doors, dishonor overseas, class warfare and a true "Divided States of America" under his watch! How can ANYONE (not on the Government's dole) even consider re-electing this inept, political elitist? Hopefully, American voters will see the light of day next November!

    November 17, 2011 09:19 am at 9:19 am |
  3. GI Joe

    What decision? To continue as before? The 6 republicans on that panel assured it's failure from day one with God Norquist's super pledge to corporate America.

    November 17, 2011 10:30 am at 10:30 am |