Scoreboard: Obamacare scare

The threat of a US government shutdown over the healthcare bill will hobble markets this week, while more housing bubble talk and the RBA's rates decision will dominate locally.

It wasn’t the most exciting week last week. Not much news or data, and stocks in the US finished down about 1.2 per cent – in part because of the renewed debt ceiling drama, but also because there is a view that US stocks have run too hard. The All Ords in contrast finished 0.8 per cent higher, which is good news – we’re outperforming for a change.

There was more action on the debt market as the US 10-year Treasury note rallied. Yields were down about 10 bps to 2.63 per cent, but that mainly reflects the fallout from the Fed’s decision not to taper.

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