Scoreboard: US Snailmate

US stocks slipped overnight – but not enough to push Washington to a deal – while the Reserve Bank made its minutes hard to interpret.

As I mentioned on Monday it looks like the US is all set to miss the October 17 deadline. The problem is that markets are just not taking this seriously enough – so the brinkmanship has to intensify (Why America needs the markets to crackOctober 16). Thus the critical deadline of October 17 will likely pass.

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