Economic & Investment Commentary for quarter ended 30 September 2013
The September quarter was dominated by political issues. Expectations of a winding back in the US quantitative easing program dissipated and the focus moved to the impasse between the Democrats and and the Republicans over the debt ceiling and the Budget.
This impasse resulted in a partial shutdown of the US Government and increased volatility in equity markets. A last minute compromise was reached with funding provided until 15 January 2014 and the debt ceiling issue deferred until 7 Feb 2014.
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