Here's my summary of the key overnight news in 90 seconds at 9 am, including news that virtually nothing is being progressed in the US budget debate.
It's nearly a week into the US Government shutdown, and signs of economic damage are limited to stalled contracts and lost tourism revenue. But the risk of a long closure is raising concerns among economists, executives, and foreign countries.
If you want to understand what is at the heart of the Republican strategy in the House of Representatives in the US Congress, you could do worse than read what Paul Krugman has to say in his searing commentary.
China has 'warned' the US of the implications of not getting a debt limit deal. Japan has added its voice. But these creditor countries are as trapped in the situation as anybody.
However, in this winner-take-all battle in the US Congress, the good thing will be that at the end of it, we should have a winner, which will set the scene for years to come. The period of endless 'threats of default' should be passed. But we may still have to wait for a few weeks yet to get to that point.
Meanwhile, Greece says it will return to growth in 2014 and has a new Budget that forecasts a surplus. Not everyone is convinced, of course, but some big private sector investments back up the turnaround.
And in Britain, the float of the SOE Royal Mail appears to be a run-away success.
The World Bank cut its 2013 forecast for developing East Asian economies to 7.1% because of slower growth in China and other nations in the region.
This morning we will get the important NZIER Quarterly Survey of Business Opinion, a survey that has given early reliable signals to the state of health of the New Zealand economy.
Oil, gold, the Dow, and commodities are all range trading. Benchmark yields are doing the same, as are exchange rates.
The NZ dollar starts today at 83.3 USc, 88.3 AUc, and the TWI is at 77.1.
The easiest place to stay up with today's event risk is by following our Economic Calendar here ยป
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