U.S. Fiscal Impasse Solved

Wow! The last time I posted in this blog was... July 24, 2013. And it was not even a real post as I have posted just an issue of the Bulog and Berto comics. I have been "wasting" my time creating comics instead of journalising my sentiments with regard to the Philippine stock market but no regrets as I have received accolades from trader friends.

The U.S. Congress has just voted to halt the 16-day government shutdown and raise the U.S. debt limit, thus ending the drama created by the U.S. fiscal impasse. The agreement will fund the government through January 15, 2014 and suspend the debt limit through February 7. Until then, confrontations on these issues between the Republicans and the Democrats are suspended. President Obama is set to sign the bill tonight. Good news! 

But, as of this writing (11:34AM), the PSEi has not absorbed yet the impact of the resolution as the PSEi stands at a meager 0.75%+. Or is it possible that the abovementioned U.S. positive move is already reflected in this morning's market sentiment? Let us see how this develops in the afternoon trading.