RENEE MONTAGNE, HOST: And news that Washington has finally reached a deal, averting a potentially catastrophic debt default, is drawing a mixed reaction from the rest of the world.</s>RENEE MONTAGNE, HOST: NPR's Philip Reeves, in London, is watching the markets for us.</s>PHILIP REEVES, BYLINE: We all know that, at times, the markets can be panicky and irrational. Yet, during this crisis, they held their nerve. Analysts say traders were always pretty confident there would be a last-minute deal. This time, they were right.</s>PHILIP REEVES, BYLINE: Today, traders are reacting more with guarded relief than euphoria to the news that the crisis is over - at least for now. Markets in Asia and the Pacific edged upwards, though in Hong Kong, stocks actually dipped, partly thanks to anxiety about Chinese economic stats, due out tomorrow.</s>PHILIP REEVES, BYLINE: In Europe, Britain's FTSE, Germany's DAX, and France's CAC all started the day slightly down.</s>PHILIP REEVES, BYLINE: Market analysts say there's concern that the stand-off and partial government shut-down may have damaged the U.S.'s frail economic recovery. Investors are also clearly well aware yesterday's deal's only a temporary fix, and that there may be another perilous budget battle in the New Year.</s>PHILIP REEVES, BYLINE: Philip Reeves, NPR News, London.
Congress has approved an 11th-hour measure to end a partial government shutdown and pull the country back from the brink of a historic debt default. Now that a financial calamity has been avoided, how did overseas markets react?