While you were sleeping Wall Street drops, bonds rise

Wed, 02 Oct 2013

Oct. 3 (BusinessDesk) – Wall Street fell, while US Treasuries gained, as the American government entered its second day of a partial shutdown because of the failure to reach agreement over the budget. "Yesterday, I think the market was just relieved that the government shut down yet the sun still came up," Erik Davidson, deputy chief investment officer for Wells Fargo Private Bank in San Francisco, told Reuters. "The second morning we're now realising the dysfunction in [Washington,] DC is going to be continuing for a while." In late aftern...

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