Rates and the dollar are up small, consolidating yesterday’s decline as everyone waits for the next shoe to drop in Washington.

The government will be shut at least another day after yesterday’s vote failed again to break the impasse, and as the Senate adjourns for Yom Kippur.

In the meantime, look for headlines later from OMB Director Russ Vought’s meetings with both President Trump and majority leaders on plans to streamline the government.

Effectively, DOGE recommendations will be considered to eliminate certain non-essential/non-aligned programs and to permanently furlough some of the 750k employees currently affected by the shutdown.

A golden rule in Washington is that if you’re in the minority, and the other team offers you a clean CR that doesn’t advance their agenda, you take it and say ‘thank you.’

However, having ignored that advice, the minority will now have to answer for any lost jobs, a bitter pill that many will find unpalatable. Just five more votes (out of 45) are needed to reopen the government.

In case you didn’t notice, there’s no weekly jobless claims number, nor factory orders data scheduled for 10 am ET. Tomorrow’s non-farm payrolls report is also out.

Elsewhere, macro guys see another cloud on the horizon. In addition to the recent downdraft in private lenders, financial stocks have had a bad couple of days.

Could be something. Or not. So far, the private lender meltdown appears to be happening in a vacuum.

But as the old schoolers will tell you, as go the banks, so goes the market.