For John, BLUF: Markets are taking notice, but not collapsing. Nothing to see here; just move along.
Over at the blog Quartz is a post headlined "The markets are starting to look like they seriously think the US might not pay its debt". From the penultimate sentence:
...real damage has already been done to the US reputation as a borrower.Markets anticipate the future, but don't necessarily determine it, nor predict it.
Regards — Cliff
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