US futures are heading lower this morning, as the debt ceiling deadline races closer without there being a deal.
Talks seemingly went nowhere over the weekend, as negotiations in the Senate stalled out, while according to John Boehner, talks between Obama and the House collapsed.
Negotiations remained ongoing in the Senate, between the leadership of both parties, but time is now incredibly short if the two sides want to cobble together a deal that can be passed by both houses of Congress.
Futures are set to open off about 0.7%.
But other than that, markets are calm. Stocks in Asia didn’t do much. Stocks in Europe are mixed.
The bond market is closed today in the US, which might dull a little bit the signal that markets might be telling Washington. But it shouldn’t be a problem. The stock market can do all the heavy lifting of voicing the displeasure if there not being a deal.