Stock market futures are defying fiscal cliff fears. There is chatter about comments from Senator Bob Corker saying a fiscal cliff deal will probably happen today. Update: Here is what he said. “I do think something is going to happen. I think it happens today.” Senate majority leader Reid will have an update at 11 am ET (1600 GMT). I suspect some frontrunning of the usual early-January rally in risk assets is equally responsible for the improvement, with EUR and GBP now taking part. (full story)