Debt Ceiling Issues

For John, BLUF:  Markets are taking notice, but not collapsing.  Nothing to see here; just move along.

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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