FURTHER FURTHER READING
- Scott Skyrm on technical default, Treasurys, and repo.
- Jamie Dimon and "people who matter".
- The fifth anniversary of the zero lower bound.
- The default has already begun.
- Meh ceiling?
FT EVENING ROUND-UP
Debt limit looms as compromise plans falter in US Congress: "Efforts to strike a deal to end the impasse in Washington faltered in Congress on Tuesday, raising the chances of the US missing the deadline to raise its $16.7tn borrowing limit. Top House Republicans were scrambling to rally their conservative rank-and-file around a plan to raise the debt ceiling until February and reopen the government until mid-December." (Financial Times)
Christopher Bailey to head Burberry as Angela Ahrendts joins Apple: "Apple has turned to Angela Ahrendts, the chief executive of Burberry and one of the most powerful women in fashion, to fill a year-long gap at the top of its retail business. Ms Ahrendts, who has been at the vanguard of incorporating digital into luxury having developed Burberry's own social network, will become senior vice-president of retail and online stores at Apple. Christopher Bailey, Burberry's creative director, will take over when Ms Ahrendts leaves in mid-2014." (Financial Times)
Bond trading slowdown hurts Citigroup: "Citigroup has missed analysts' estimates of its net income in the third quarter, reporting a figure of $3.2bn, following lower volumes of fixed-income trading and a drop in mortgage banking. The results come a day before the one-year anniversary of Vikram Pandit's ousting as chief executive of the banking group, which had followed clashes with the board." (Financial Times)
