A Touch Of Vertigo.
Fourth quarters have traditionally been very kind to stock markets, with half of the past decade’s returns typically coming in Q4s. Having said that, there was precisely zero progress towards ending the US government shutdown over the weekend. It still appears to be more of an annoyance than a crisis to politicians (and to Wall Street) but the feeling was that this was likely to change if this shambles goes on for an extended period.
Unlike in the US, there were plenty of political developments overseas. Asian stocks surged on Monday morning on the back of the appointment of a new Japanese…
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