The big date though is Oct. 17 and the debt ceiling. The government shutdown is a category one; failure to act on the debt ceiling would be a category five.
Gross thinks a default by the U.S. would be catastrophic as the U.S. Treasury is basically the center of the global financial world. Default would trigger meltdown worldwide in all asset classes.
Watch the video below to see where investors would flock if a default were to occur and what would happen to stocks if it does: