Spreadex Market Update
China's manufacturing data improving
It’s certainly positive for those remaining bullish equities that the market can be seen to extend liquidity and calm ahead of what remains the last real headline risk before the new year, the fiscal cliff. But if data points into the festive period worsen more so than anticipated, then the market will likely reflect any such detrition.
Indeed, if this belief by Investors that current prices are reflecting well the present value of expected future cash flow is to find longevity, figures like today’s must be seldom seen. The Dow trades largely unchanged at 13,028.
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