The Day Today

"The Day Today" - 2 Oct

* Govt shutdown looks unlikely to be resolved until Congress resolves the upcoming debt ceiling debate WSJ – Biggest Economic Threat: Debt Ceiling, Not Shutdown http://on.wsj.com/GzMnSC * FT: Risk of US default worries markets more than shutdown http://on.ft.com/1hk87x2 * White House Rejects 14th Amendment as Debt Ceiling Alternative {NSN MU09D90YHQ0X<GO>} * WSJ Blog on understanding the concepts behind the budget battle http://on.wsj.com/1bqqCm8

* In Italy,

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"The Shutdown Day Today" - 1 Oct

And so, the US government shuts down for the first time in 17 years. Markets still trying to work out what it means, having been burnt on trading the alleged Armageddon of fiscal cliff talks at the end of last year.

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"The Day Today" - 30 Sept

* It’s all about whether the US Govt really will shutdown if a compromise can’t be found by midnight tonight. If it does, Goldmans estimate the US econ takes a $8bn hit each week http://on.ft.com/1fTRdHV
* WSJ explains how a NFP report could be released even with a shutdown http://on.wsj.com/14Tyo35
* Why shutdown now might mean less chance of default when debt ceiling expires mid-October http://wapo.st/164tyAW

* The 5 cabinet members from Berlusconi’s party quit the Govt,

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"The Day Today" - 26 Sept

* Panel advising Japan’s GPIF pension fund delivers interim report today on asset allocation {NSN MTPYQC6TTDSK <go>} * Kyodo news: Japan’s Govt plans “urgently” to start a study on cutting the effective corporate tax rate {NSN MTQ0EJ6S972E <go>}

* W House puts pressure on with Tsy Sec Lew saying US could run out of funds by October 17 http://on.ft.com/184wBZf

FED * Lacker: “My concern is that the combination of forward guidance and a very large balance sheet has raised the likelihood of policy mistakes going forward,

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