US Government Nears Shutdown, China Golden Week Begins | Bloomberg Daybreak: Asia Edition

The US government hurtled toward a Wednesday shutdown as Democrats blocked a Republican stopgap funding package that didn't address their demands, the latest sign that neither party was likely to fold in the final hours before a federal funding deadline. With no more votes planned in the Senate before a midnight deadline, the White House's Office of Management and Budget instructed government agencies to "execute their plans for an orderly shutdown." Despite the risk of a shutdown, US equities notched a second straight quarter of gains. We spoke to is Viraj Patel, Executive VP & Head of Asset Allocation at Fiduciary Trust International.

Plus - China's Golden Week starts, with all eyes on consumption over the holiday. Millions are set to travel, shop, and dine during that time period. Their spending data will offer clues on whether deflationary pressures are easing and if policy support is translating into real economic activity. To encourage consumption, city governments are issuing coupons largely targeting autos, dining and tourism, while the central government released service-industry stimulus measures, including extended museum hours and more sports events. For more, we spoke to Catherine Lim, Senior Analyst: Consumer and Technology for Bloomberg Intelligence.

See omnystudio.com/listener () for privacy information.

Bloomberg Daybreak Asia delivers today's top stories, with context, in just 15 minutes. Get informed from Bloomberg's 2,700 journalists and analysts in 120 countries.

Subscribe to Bloomberg Podcasts

Listen to more Bloomberg DaybreakAsia Edition

#Bloomberg #Podcast #Asia

Follow Bloomberg Podcasts on Twitter

Visit our other YouTube channels:

Bloomberg Television

Bloomberg Originals

For coverage on news, markets and more