Gross domestic product contracted at an annualized pace of 2.1% in the third quarter, largely on the back of falling business spending and higher imports that dragged on the economy.

Bonuses for debt underwriters are expected to stay flat or drop as much as 10%, while payouts for equity trading could fall 5% to 10%. Finance professionals working in fixed-income trading, hedge funds, private equity firms and asset managers can expect flat bonuses or small gains or losses, according to the estimates.

The new House speaker, Mike Johnson, who proposed the interim funding package, faces scathing criticism just three weeks into the job from some hardline conservatives because he didn’t meet their demands for immediate deep spending cuts or changes to immigration policies. Ninety-three House Republicans voted against their leader on the measure.

Sri Lanka plunged into economic crisis in 2022, suffering severe shortages and drawing strident protests that led to the ouster of then-President Rajapaksa. It declared bankruptcy in April 2022 with more than $83 billion in debt — more than half of it to foreign creditors.