zation and “shrill” political debates as possible culprits of the contradictory signals between the high levels of consumer confidence as measured by the Conference Board and the high levels of dissatisfaction as measured by Gallup Polls.™ Risks of continued terrorism are very high, but the broader economic impact of

with fiscal policy tightening by USD 607 billion (3.7% of UBS estimate of 2013 GDP) in 2013. The US credit rating is downgraded. Key dates 30 Oct Conference Board consumer confidence 1 Nov ISM manufacturing purchasing managers index for October 2 Nov Nonfarm payrolls and unemployment rate for October 6 Nov US