Just spoke to my son's friend's father at school who is a Senior Lecturer at Sydney Uni for American Studies. He can often be seen on SBS giving commentary on the US.
He seems quite sure that come mid Dec a deal will be done on taxes but the remainder of the cliff talk will be put on hold until 2013 (.i.e Republicans eventually will then get their way on major spending cuts on entitlements).This delay and indecisiveness/further bickering would not be good for the market.
His view = a short Xmas Rally before going downhill in 2013.
Time alone will tell if he is right.
Just spoke to my son's friend's father at school who is a Senior...
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
8,285.2 |
Change
61.200(0.74%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,224.0 | 8,285.2 | 8,224.0 |
| XJO (ASX) Chart |