FURTHER FURTHER READING
- Is aid a roadblock to development?
- "A plucky amateur dared to question a celebrated psychological finding. He wound up blowing the whole theory wide open."
- The scientific costs of the government shutdown.
- How to fake your way through a business party (the golf swing gif is excellent).
- Fix the Debt's Q&A didn't go very well.
- A grand bargain is still unlikely.
FT EVENING ROUND-UP
Fed could taper as early as December: "The US government shutdown sabotaged a crucial month of data and dealt a blow to the world's largest economy, but the Federal Reserve could still begin reducing its asset purchases as early as December. Analysts have slashed their growth forecasts for the fourth quarter to 2 per cent or below, with many expecting a hit of about 0.5 percentage points from the prolonged shutdown. But many said the economy would bounce back quickly with federal employees back at work." (Financial Times)
US government returns to work after debt deal: "Hundreds of thousands of US federal employees returned to work on Thursday after Congress passed legislation that reopened the government and raised the debt ceiling just hours before the Treasury would have reached its borrowing limit. The focus of America's budget wars turned quickly to mid-December, when a bipartisan conference of lawmakers has been tasked with reaching a spending deal for next year and avert a new shutdown and debt ceiling threat." (Financial Times)
Global swaps market faces fragmentation: "The global swaps market faces fragmentation as US institutional investors shy away from electronic marketplaces and investment banks strengthen their overseas operations. A survey by Tabb Group, the capital markets consultancy, this week found three-quarters of 40 US asset managers, hedge funds and regional banks, with a collective $13.6tn in assets under management, have avoided using the new electronic marketplaces, known as Swap Execution Facilities." (Financial Times)
