What to make of a potential government shutdown
Even with a historic decline in bullishness this time, past market events suggest staying the course.
- More near-term market volatility may be possible for the U.S. stock market if Congress fails to pass a stopgap funding agreement on or before March 14 to avoid a government shutdown.
- Shutdowns have been short-lived in the past, but the latest Congressional budget impasse is coming amid the fastest shift away from bullish sentiment for the stock market since the Gulf War in 1990.
- Since 1987, similarly rapid declines in market bullishness resulted in an average gain of 20% over the next 12 months.

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