Market Review, October 2013

Publication Date: 

November 2013

Summary: 

October headlines were dominated by political brinkmanship in Washington which led to a partial government shutdown and near technical default on U.S. government debt. The shutdown left roughly 800,000 federal workers on furlough during the first half of October. President Obama signed a measure on October 17th that funds the Federal government through mid-January 2014 and lifts the debt ceiling through the first week of February 2014. This allowed the government to reopen after a sixteen-day shutdown. Several key economic reports were delayed due of the shutdown.