U.S. equities got off to a sour note this week as the federal government shutdown and looming debt ceiling concerns weighed heavily on the markets. After the CBOE’s volatility index spiked 4.8% on Monday, stocks got a slight reprieve after the White House announced that Janet Yellen–a staunch proponent of easy-money policies–would be nominated as the next Federal Reserve Chairman. On Wednesday, markets turned higher after signs of lawmakers coming closer to a deal helped ease tensions; House Republicans unveiled a six-week debt-ceiling increase, which would act as a temporary fix to the nation’s looming debt deadline. Meanwhile, bellwether Alcoa kicked off the third quarter earnings season, reporting earnings that exceeded analysts’ expectations [see 5 Big ETFs That Still Aren't Back To Pre-Crisis Levels].
Below, we highlight seven insightful articles circulating around the financial space this week:
- Who we owe – foreign holders of U.S. Treasuries visualized (CNN Money)
- How rail is reshaping our energy system (Open Markets)
- Don’t expect any surprises this earnings season (Dr. Ed’s Blog)
- Wall Street’s forecasters have a lousy track record (Above The Market)
- 5-year anniversary of the synthetic economy (William Blair)
- Living in a low return world (Abnormal Returns)
- A closer look at the next Fed Chairman (Institutional Investor)
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Disclosure: No positions at time of writing.