FURTHER FURTHER READING
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*BOEHNER SAID TO AGREE TO TAKE UP SENATE PLAN: NATIONAL REVIEW
You’re crying (of boredom), we’re crying, he might soon be crying, the S&P 500 was up more than 1 per cent as we went to pixel time. But news from DC could still swiftly change: Read more
The prospect of a US technical default is unfortunately becoming an ever greater reality.
That said, there’s no reason to panic just yet.
If there is a D-day it isn’t until November 15.
What’s more, there’s an ever louder chorus of voices suggesting that a technical default may not matter at all.
How can that be? Read more
In which, regardless of recent calls on Argentina to negotiate on an amount to pay its holdouts in the pari passu case (or is it to give those calls teeth?)…
…Ted Olson, NML Capital’s lawyer, invites the Second Circuit to unfreeze an order to pay the holdouts ratably — and in full, by the terms of their defaulted bonds — at the next payment to restructured bondholders. Click for the doc. Read more
Real life actual judicial opinion on Herbalife arrives from California. Click for the full document
It is only denial of a Herbalife motion to dismiss a suit from a former salesman, Dana Bostick, but there are some significant judicial thoughts that add useful perspective on what we have been reporting about the pyramid scheme case law as it applies to Herbalife. Read more
Live markets commentary from FT.com
We don’t know exactly what next year’s Asset Quality Review will involve yet, but we are starting to get a picture of what investors think about the ECB’s forthcoming burrow through bank balance sheets.
In short, given that it might not be all over until the end 0f 2014, everyone is feeling pretty good about the banks right now, and that might explain a surge of appreciation for European stocks. Read more