BI’s Sam Ro writes: Stocks have held up remarkably well
lately considering all of this talk about the fiscal cliff and how going over
the cliff could hack multiple percentage points off of GDP growth.
However, the apparent dismissal of this impending, high-risk
event with a non-zero probability may have turned the stock market into a giant
powder keg. The S&P 500 closed at
1,435 today, which is near a three-month high and just 40 points from a
post-crisis high.
Meanwhile, complacency is arguably high as reflected by the
low levels in the volatility index....
.
Read more:
http://www.businessinsider.com/stock-market-fiscal-cliff-downside-risk-2012-12#ixzz2FZdjuyFW
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