No taper -- but QE3 never lowered yields, so why risk prolonging it now that they've risen?

So much for "bailout fatigue." The German electorate vindicates Merkel's euro strategy.

The next systemic threat? Likely less market risk and political risk here than meets the eye.

Japan faces two tax cliffs -- and so far no pro-growth labor or product market reforms.

It'll be America's 18th shutdown. They've all been resolved. This one will be, too.

Deja vu in Italy, time for something new at the ECB.

Boehner and Obama both say we're heading for default. Game theory likely says otherwise.

It means Obama is scared. The GOP offer to put sequesters into play will start negotiations.

Almost there: another 2013 risk-event with no contagion -- plus the GOP gets a do-over.

A contrarian case: the GOP won! Either way, stalwart markets prove the era of risk-off is over.