Futures Jump After Lawmakers Reach Border Deal "In Principle" To Avert Govt Shutdown
Just moments after we reported that top Congressional democrats and republicans were meeting on Monday night to reach a last minute border funding deal and avert another government shutdown, the negotiators said a bipartisan deal has been reached over border security with Senate Appropriations Chairman Richard Shelby saying that an "agreement in principle" has been reached and that staff will work on the deal, and while he did not give any details on what they agreed to regarding border wall and detention beds, HE said that will be released when bill text is released and added that the bipartisan border deal will have "some money" for a "barrier" (which appears to be a major de-escalation from wall, and even fence).
And in a hint that the "deal" may prove be fleeting, Shelby also hedged saying that he "hopes and thinks White House will back the deal."
The breakthrough came after Sens. Shelby (R-Ala.) and Patrick Leahy (D-Vt.) and Reps. Nita Lowey (D-N.Y.) and Kay Granger (R-Texas) — the top members of the Senate and House Appropriations Committee — met three times on Monday night in a last-ditch effort to get a deal, as described below.
“I think everyone will say good work,” Granger said.
Shelby and Leahy, standing side by side as they spoke to reporters earlier Monday evening, indicated that the group thought they were closing in on a deal and could wrap up talks before Tuesday.
"We’re talking about reaching an agreement on all of it," Shelby told reporters.
While negotiators refused to discuss the particulars of the deal and Lowey said staff were still finalizing the details - Lowey said she hopes for legislation to be released on Wednesday - algos responded quickly to the flashing red headline, by buying risk and futures promptly spiked a little after 8pm, sending Dow futs to intraday session highs.
https://www.zerohedge.com/news/2019-02-11/we-are-close-top-negotiators-scramble-reach-border-deal-shutdown-looms