Down To The Wire
The political scene in Italy was worryingly active over the weekend. In Washington it was the lack of activity that was of greatest concern given the possibility of a US government shutdown within the next 24 hours. At the time of writing, there is very little sign that US politicians are closing in on a compromise deal. They have until 4am GMT on Tuesday morning (Monday midnight in Washington) to pass a “continuing resolution”. If not, federal spending is likely to be severely curtailed immediately afterwards.
Read the full report: UBS