Don't Get Carried Away With Fiscal Cliff Optimism
Gendreau also noted that there likely had been a lot of selling based on tax-related issues, such as the possible increase of capital gains taxes and others that would rise automatically in the event of a full or partial fiscal cliff.
So while the market has given investors some excitement for Monday, ongoing negotiations in Washington D.C. are likely to offer some rocky trading sessions as politicians jockey for the gritty details of a budget resolution.
In other words, expect politics as usual on the horizon.
-- Written by Joe Deaux in New York.
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