Scoreboard: Deadlock drama

US stocks continued to fall amid a looming government shutdown, while Italy's political problems also hit European markets.

We’ll find out at 1400 AEST today for sure, but the US government appears to be close to a shutdown. As expected, the Senate rejected a House proposal that would pass necessary expense measures if ‘Obamacare’ were delayed for one year. Not the first time the government would have shut down if it does happen, but normally what we see in this situation at the very least is that all parties concerned pass some legislation at one minute to midnight to delay shutdowns for another day/week/month or something. In other words, they pass a short-term expense measure. As it turns out, the Senate has proposed just such a bill – the House just needs to pass it. (Shutdown: Be afraid, but not very afraid, October 1)


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