Trump Cucks Out on Border Wall Shutdown

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The promise spooked already nervous traders, who saw in Trump's promise the catalyst for either an extended government shutdown, or worse, a technical default as the US breached the debt ceiling in early October. That said, Trump had already flopped once on the border wall funding, and - we wrote last week - it was very likely he would do so again once his economic advisors explained to him the severity and consequences of his latest public boast.

That's precisely what happened as moments ago, the WaPo reported that White House officials quietly notified Congress that the $1.6 billion in wall funding would not need to be in the September continuing resolution that was meant to fund government operations from October until sometime in early December, a senior GOP congressional aide said. In other words, contrary to his vow less than two weeks ago, Trump won't shut down the government over the wall funds after all.

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