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Nervous markets tentatively find support for risk, but will it last?
Whilst markets have seemingly been hopeful (or should that be “duped”?) by the apparent signs of progress in the fiscal stimulus negotiations, as yet, there is nothing to show for it. We are now just one week before polling day for the US Presidential and Senate election (where 35 of the 100 seats are up for re-election). Despite the Democrat House Speaker Pelosi remaining “optimistic” there is an apparent fatigue setting in for market sentiment. Agreement will not happen before the elections and after that, it is open to significant uncertainty on the results. This lack of certainty on fiscal stimulus, ... (full story)