ANALYST: John Boehner Is About To Make The Biggest Decision Of His Career
Then: All eyes on the House of Representatives.
Analyst Greg Valliere at Pacific Research Group puts it succinctly:
BOTTOM LINE: The pivotal event in the next 48 hours will be in the House, where Boehner faces the biggest decision of his career. But even if a deal is done by late this week, another shutdown crisis will loom on Jan. 15, with a new debt ceiling deadline on Feb. 7. Our sense is that stocks can withstand this because the Fed will have to delay tapering amid the uncertainty -- but global investors are watching this carefully, and real damage is occurring to the U.S. brand.
Boehner has to decide whether he's going to anger the far right of his party and just push the bill through, or try to keep fighting. Again, this all assumes the Senate passes something.