Spreadex Market Update
Euro markets continue to trade in the red
Investors momentarily move focus away from the euro zone and onto concerns that fiscal-cliff negotiations are running into difficulties.
Politics between the Democrats and Republicans is delaying a decision on the fiscal cliff, bringing uncertainty to the market until a deal is reached.
With a bulk of US economic data due this afternoon, this could provide a small distraction to investors.
New-home-sales are scheduled to remain at the highest rate in more than two years whilst the Federal Reserve is scheduled to release its Beige Book business survey.
Meanwhile, treasuries advanced for a third day after fiscal cliff of tax increases and spending reductions are making little progress, underpinning demand for safer assets.
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