US debt ceiling raised or extended till mid January 2014.....in eleventh hour deal......but default was never in doubt Thursday, 17 October, 2013 7:50 AM
Posted by Kevin ScullyThe brinkmanship between the Republicans and the Democrats which pushed the US Government close to defaulting has in my opinion embarassed the US Government more than anything else. This form of "chicken" is unbecoming of the most powerful country in the world. It was always my view that this was a distraction to investors and that the key risk facing the equity markets remains tapering.
Even the last minute solution between the Republicans and Democrats early this morning isnt a solution. They have agreed to a partial extension of the debt ceiling which will defer the decision again till 15 January 2014 with the final date extended till 7 February 2014.
The Vix index had risen pass 20 on ...
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