Will the Federal Reserve talk investors off the fiscal ledge?
Of course, there is always some chance of something bigger. And when something bigger comes around, everyone seeks a catalyst. In this case, should something bigger weigh on markets, the catalyst may come in the form of the US fiscal cliff.
Global PMI numbers out today reaffirmed the ongoing slowdown in Europe and China. But that's relatively old news that alone won't trigger something bigger. Granted, the fiscal cliff concept is no spring chicken either. But the real impact of the coming changes may not have had a chance to set in yet for investors who've been preoccupied with central banks, elections, China and Spain. The chart at right shows the potential impact on US GDP if nothing were to be done to postpone the cliff ...
Market Vitals | 24 October 2012 [http://blackswantrading.squarespace.com/storage/market-vitals/102412_mv_cliff_and_fed.pdf] ~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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