Will America default?

The US government shutdown is neither a new event nor usually a significant factor for the US market and economy. The main worry is the debt ceiling

Markets have expressed "mild concern rather than panic" over the stand-off in the US Congress, as the Buttonwood blog puts it on Economist.com.Stocks have edged down rather than slid sharply over the past fortnight."Given what is at stake, one would have expected a stronger reaction," says the FT.

As we noted last week, the US government shutdown is neither a new event nor usually a significant factor for the US market and economy. The main worry is the debt ceiling.

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