Armistice or peace? – Weekly market update by St. James’s Place Wealth Management

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Armistice or peace? – Read the full article here!

Politicians in America are increasingly struggling to come to agreements on Capitol Hill. Global investors, however, do seem to agree that the biggest risk to the world’s largest economy in 2013 is no longer America’s investment bankers, who were the pariahs of 2007, but its elected representatives. After three weeks of political drama in Washington, the US Congress agreed an armistice, even if they were unable to declare peace. With pressure mounting from US business and overseas creditors such as China, Democrats and Republicans last Wednesday found a way to end the government shutdown, extend the debt ceiling and start negotiations on a new budget.