Spreadex Market Update
10.12.12 Monday Morning
However, since details over the conversation have not been reported, investors and spread betters are still behaving cautiously in the face of risk-on assets as it is not clear whether Obama and Boehner are locking horns over their negotiations or are in fact edging closer to agreeing a deal to avoid the cliff.
Thus, investors will be hoping for an early Christmas present this week in the form of an announcement, which is backed by tangible evidence, that US policy officials are close to agreeing a deal to avoid the cliff.
Despite the possibility of an early Christmas rally, courtesy of US policy officials hopefully moving closer to agreeing a deal to avoid the cliff, there is still a sombre mood hanging over the markets caused by poor trade balance figures from China.
This, partnered with data last week showing poor industrial production figures from Germany as well as a growth downgrade for 2013, is a clear sign that the global economy is still struggling with the impact of the recent financial crisis.
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