Threadneedle: US-Haushaltsstreit war geschmacklos

“That technical default has been averted is to be welcomed, but the public brinkmanship involved in arriving at this temporary extension of the debt ceiling has been unpalatable and serves to further chip away at the US dollar’s status as unquestioned reserve currency. During this row we have seen little economic data released from the Government, and the few data releases there have been from the private sector have been weaker. We expect this data weakness, combined with a lack of prospectively clean economic data through year end and the certainty of another US political showdown in the first quarter, to delay tapering until March 2014 at the earliest.”