Seemingly unwilling to risk any further damage to his already low approval ratings, Trump ultimately decided to go ahead and take the drama out of the debt ceiling debate, striking a deal with Democrats - much to chagrin of the GOP. We've now got a new lease on life - until December. And even that assumes we'll all make it that long without being drowned by flood waters from Day After Tomorrow-ish hurricanes or incinerated by one Kim's DIY, IKEA nukes. In any event, the fiscal can kicking allowed stocks to rebound and recover some of the losses from Tuesday, which, you're reminded, was the worst day for U.S. equities since the Gary Cohn rumor tanked markets in mid-August. So risk assets have dodged another bullet... "Apparently, it's just impossible to kill the rally"...   Here's a fun picture someone took from the bushes of Trump with his new "friend": Needless to say, havens were pressured as 10Y yields rose, the yen fell, and gold dropped in tandem: October T-bill yields normalized, plunging as the can has been kicked a couple of months down the road: So as noted above, the new doom
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