Market Impact of Government Shutdown - The government shutdown is expected to have a limited economic impact unless it extends for a longer period [2][3] - The underlying trends in the market are likely to continue, with a delay in data reporting and potential volatility in equities and bonds [3][5] US Dollar Outlook - The shutdown is anticipated to contribute to a weaker US dollar, which is seen as the path of least resistance in the coming days and weeks [4][5] - Recent corporate rebalancing flows have shown a tendency for dollar weakness, indicating a long-term reduction in exposure to the dollar [5] Market Reactions to Economic Data - There is a concern that the market may overreact to the ADP employment number due to the absence of other key data points like jobless claims and NFP [6][8] - This overreaction could lead to short-term volatility, but it is not expected to establish new trends [8] Treasury Yields - The US ten-year Treasury yield recently hit an intraday low of 3.98%, but it is not expected to go significantly lower [9][10] - While the shutdown may lead to some short-term Treasury buying, the overall outlook suggests more upside risk for yields rather than downside [10]