Debt Deal Today Appears Unlikely
It doesn’t look like it’s been a very productive day on Capitol Hill:
Asian markets? They are on their own. A Republican source tells ABC News negotiators do not expect to have a deal or even the framework of a deal on the debt ceiling by 4 p.m. today, as House Speaker John Boehner had said he wanted to steady jittery Asian markets when they open.
In fact, the source says a deal today is now looking unlikely.
The principals are speaking over the phone while the staffs work on the numbers. Congressional Democrats and Republicans continue to try to hash out a compromise, but they are not there yet.
“A deal is still elusive,” said one top House Republican.
Asian markets will start having their say around 5pm ET when futures and currency markets open up. Then, Tokyo opens at 8pm, followed by Hong Kong at 9:30pm. It will be interesting, to say the least, to see how the world reacts to all of this.