About that U.S. shutdown. “It’s only a matter of time before we start to see this in the real economy,” Mark Kiesel, chief investment officer of global credit at Pacific Investment Management Co., told Bloomberg Television Thursday.
That includes the labor market and capital spending, the latter of which was down in at least two measures of expectations in December.
“As profits slow and as confidence gets hit, you’re going to see that impact labor-market numbers -- they’ll weaken,” he said. “You’re also going to see the capex numbers start to weaken as well.”