China September Trade Balance down to 15.2B vs 28.6B (August)

Oct 12, 2013

Weekly Recap: Default clock still ticking; USD/JPY continues advance

Crisis? What crisis? Markets are cheering just a small chance of a debt ceiling extension which is not even real yet: Thursday saw US indexes soaring with the Dow up more than 320 points, its biggest point gain since December 2011, while the S&P posted its second best run for this year.

U.S. impasse still to be broken

While there is a realization by both political parties about a need to accelerate talks, so that the U.S. can avoid a default on its debt, President Barack Obama, House Speaker John Boehner and their respective representatives failed yet again to make any significant progress over the weekend.