Jefferies: The U.S. government's restart will boost risk assets, with a 64% probability of a rate cut in December

According to Jin Ten, Jefferies global economist Mohit Kumar stated that the prospect of the U.S. government restarting will eliminate several risks for the market, which should boost risk assets. With the Senate passing the stopgap spending bill, a government shutdown is likely to end this week. He believes that the clearing of positions will eliminate one of the resistances for risk assets, but uncertainty surrounding Federal Reserve policy still exists. The money market currently predicts a 64% probability that the Federal Reserve will cut rates by 25 basis points in December.