John Authers, Columnist

Shutdown Is Shut Down, But Not the Dysfunction

Fiscal-cliff drama in the US government is already priced into the market. More worrying is what’s happening in bonds.

October 2, 2023 at 4:49 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

See you back here in seven weeks. — See you back here in seven weeks.
Photographer: Anna Rose Layden/Bloomberg

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Great news: The government of the world’s largest economy has not closed down, and will stay open at least until the middle of November. That is what passes for good news about US politics these days, and you can see why people aren’t terribly impressed.