Closure Concern

While the VIX, the Wall Street fear index, is still very low at 16, it’s up from 10.96 on 3/3/17. While French elections, tensions with Russia and North Korea are all possible culprits, the driver is 4/28/17. Absent a budget agreement by midnight 4/28/17, the government will experience its 14th closure since 1980. Congress returns from another recess on 4/24/17, giving our esteemed representatives five days to wheel and deal.