Spreadex Market Update
Janet Yellen to be named the next chief of the Federal Reserve
This positive outlook however could be for nought if a solution to the government shutdown and the debt ceiling can be agreed. With the 17th October debt ceiling deadline fast approaching and the possibility of a US default becoming increasingly likely short term Treasury yields have soared as people look to offload their positions.
UK markets had a down morning with investors reacting to poor manufacturing production results. Forecast at 0.3% month on month the result came in at -1.2%. This is likely to worry investors who have grown used to seeing positive economic data for the UK of late. This could plant the seed of doubt as to the authenticity of the UK recovery.
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