There was a moment today, right before John Boehner and President Obama delivered their speeches, that I thought we were going to hear the word "compromise" mentioned by both of them in a sincere and forward-moving manner. What I heard, however, was the message that Republicans and Democrats remain deeply polarized on their views related to the resolution of the Fiscal Cliff issue.
Until this matter has been satisfactorily finalized once and for all, the markets will remain volatile and reactive to news-related events, inasmuch as there is a great deal of domestic and foreign economic uncertainty related to this issue.
For now, my comments, as mentioned here and here, remain unchanged.
***I also repeat the following...The war between its own political parties is a greater threat to America than
any threat from its enemies.
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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Mon. Dec. 25 ~ U.S. Markets closed for Christmas Day holiday
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* Wed. Jan 3 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Jan. 5 @ 8:30 am ET ~ Employment Data
* Wed. Jan. 17 @ 2:00 pm ET ~ Beige Book Report
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