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 * FT: Risk of US default worries markets more than shutdown * White House Rejects 14th Amendment as Debt Ceiling Alternative {NSN MU09D90YHQ0X<GO>} * WSJ Blog on understanding the concepts behind the budget battle

* 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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