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Text size About the author: Chris Krueger is managing director at Cowen Washington Research Group. Political gridlock has generally been a tail wind for investors, but that presumes the policy path is clear of hazards. At least two policy hazards loom on the horizon: first, the debt ceiling in late summer and, second, a potential government shutdown on Oct. 1. The first failed speaker vote in 100 years was followed by changes to both House governance and structure that will make the budget and debt ceiling processes extremely challenging. To be clear, we are not predicting default. Our base case...
