Source: Giphy

Welcome to Government Shutdown 2018, where the Art of the Deal seems to have been painted by Jackson Pollock. A quick rundown of how this affects financial markets:

  • The SEC "will remain open for a limited number of days during the federal government shutdown, fully staffed." But an SEC spokesman refused to say exactly how many days that was, apparently not believing that companies would like to know when their disclosure documents will stop being processed (starting an IPO road-show today? Good luck to you). EDGAR will remain online thanks to a third-party contractor but, again, no word on when that funding runs out.
  • The CFTC has furloughed around 90% of its 675-person staff, with a skeleton crew remaining "to police" derivatives markets (including for virtual currencies). Another 16 people in the whistleblower/consumer protection office will continue working. CFTC also can summon additional employees in the case of a financial emergency. During the 2013 shutdown, weekly options and futures reports were delayed until the government reopened.
  • The U.S. Treasury says that more than half of the IRS' 80,565 employees have been furloughed, just as they are working to handle the beginning of tax filing season and recent legislative changes. Around two-thirds of the 343 employees in the Financial Crimes Enforcement Network also have been sent home.
  • The Department of Labor likely will delay jobs reports (if past shutdowns are precedent), and things like the National Labor Relations Board will stop its work. Oh, and the EEOC will cease accepting inbound inquiries or conducting investigation.
  • Offshore drilling permits will be processed, but on-land applicants are out of luck.
  • Also expect delays in other economic reports, including on things like agriculture and housing.

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Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 12,859,834 — Total deaths: 567,123 — Total recoveries — 7,062,085Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 3,297,501— Total deaths: 135,155 — Total recoveries: 1,006,326 — Total tested: 40,282,176Map.
  3. States: Florida smashes single-day record for new coronavirus cases with over 15,000 — NYC reports zero coronavirus deaths for first time since pandemic hit.
  4. Public health: Ex-FDA chief projects "apex" of South's coronavirus curve in 2-3 weeks — Coronavirus testing czar: Lockdowns in hotspots "should be on the table"
  5. Education: Betsy DeVos says schools that don't reopen shouldn't get federal funds — Pelosi accuses Trump of "messing with the health of our children."

Scoop: How the White House is trying to trap leakers

Illustration: Sarah Grillo/Axios

President Trump's chief of staff, Mark Meadows, has told several White House staffers he's fed specific nuggets of information to suspected leakers to see if they pass them on to reporters — a trap that would confirm his suspicions. "Meadows told me he was doing that," said one former White House official. "I don't know if it ever worked."

Why it matters: This hunt for leakers has put some White House staffers on edge, with multiple officials telling Axios that Meadows has been unusually vocal about his tactics. So far, he's caught only one person, for a minor leak.

11 GOP congressional nominees support QAnon conspiracy

Lauren Boebert posing in her restaurant in Rifle, Colorado, on April 24. Photo: Emily Kask/AFP

At least 11 Republican congressional nominees have publicly supported or defended the QAnon conspiracy theory movement or some of its tenets — and more aligned with the movement may still find a way onto ballots this year.

Why it matters: Their progress shows how a fringe online forum built on unsubstantiated claims and flagged as a threat by the FBI is seeking a foothold in the U.S. political mainstream.