Investors leering at consumer confidence, as shutdown fears evaded

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Investors leering at consumer confidence, as shutdown fears evaded

Despite an end to the longest federal government shutdown in the United States’ history, the US fund manages kept retreating from the consumer related stocks and throttled their defensive bets in the wake of a US economy, which had recently displayed the signs of sleepwalking alongside, sluggish growth.

Adding further repercussion onto the issue, there had not been any resolution to that particular subject matter that had initiated the government shutdown at the first place, as the US president Donald Trump had not been provided the fund of $5.7 billion, which he had bee seeking to fund a wall over the Mexican border.

Apart from that, Trump had also threatened that he might initiate another government shutdown on February 15th, if there had not been any significant improvement regarding the issue, as it was one of US President’s signature campaign promises.

When it comes to the fund managers, they had been bracing for a powerful blow in to the consumer related stocks, as over 8,00,000 federal workers had been working for 35-days without any pay and money managers including Baron Funds, Hodges Capital Management and Federated Investors had been stepping off of the consumer stocks and betting on the much safer stocks alongside, Treasury bonds.