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Macro Monday Insight: October 6-10, 2025

RECAPPING LAST WEEK U.S. equity indices recorded yet another weekly record close despite the government shutdown— the fifteenth such stoppage since 1981 and the first since late-2018. The release of the key September jobs report was a casualty of the shutdown, but weakness in other labor market data lifted odds for two additional rate cuts by year-end. The S&P500, Nasdaq Composite, and Russell 2000 indices rose between 1% and 2%. Strong sector performance was dominated by healthcare, which surged nearly