The fiasco in Washington continues to play out but the simple fact is, there is no deal.

The fiasco in Washington continues to play out but the simple fact is, there is no deal. With the “discussions” likely to come down to the wire, and maybe over the wire, ratings agency Fitch has announced the U.S. AAA credit rating is on notice and that a downgrade is possible. However, market participants don’t seem too worried as the DJIA is up over 1% to start the day. The precious complex experienced some safe-haven interest overnight but that interest has fizzled out as hopes remain high that a deal will get done before tomorrow’s deadline. It’s a wait and see atmosphere today but could become an active day as headlines roll out of D.C. Have a great day!