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"Taper talk" could pretty much be dead until next year.
Thanks to the dysfunction in Washington, many Fed watchers now see the first taper in the Federal Reserve's bond buying coming sometime later than expected—certainly not before December but probably in the first quarter. Wall Street had been geared up for the start of a pullback from the easing program sometime this quarter, but a more sluggish economy and fiscal uncertainty make that less likely.
(Read more: Cramer: US is a laughing stock around the world)
"One thing we know for sure, as much as we know anything, is that short-term interest rates are going to stay low for as far as the eye can see," DoubleLine CEO and chief investment officer Jeff Grundlach said on ". " "Quantitative easing is not even going away. It seems with this budget wrangling, it's going to keep going up. "