We may have avoided a US default - but European markets aren't too exuberant about a Washington deal. There's only been a short term fix to the artificial debt ceiling constraint - and there are no signs of a credible longer term plan to deal with the debt itself.
The solution has been "good, but not good enough", according to Mike van Dulken of Accendo Markets. The budget will need to be re-negotiated within two months, the government will be re-opened and funded for just three, while the debt ceiling has been pushed back for four.
Despite the political squabbles being over, the whole incident hasn't been painless. S&P now say that the government shutdown will have shaved 0.6 percentage points off fourth quarter US GDP.
Ishaq Siddiqi of ETX Capital says that this deal was priced in, so the lack of price-action in Europe is unsurprising. The continent is also dealing with a disappointing third quarter reports season. Van Dulken says that the market reaction implies that investors are already pricing in another standoff in December, January and February.
Asian markets have been more excitable. The Nikkei saw gains of 0.83 per cent, while the ASX 200 closed up 0.38 per cent.