Salient to Investors:
Gilles Sitbon at Sycomore Asset Mgmt said people are waiting for one thing that could make the market go down – if nothing happens, then you can get a grind higher.
Money managers said fears the economy will slow as Obama and Congress fail to avoid the fiscal cliff next year are overblown.
The US is strengthening – from jobs to housing to consumer confidence to international trade. Chinese exports rose 10 percent in both October and September from a year before versus less than 3 percent the prior two months. Companies worldwide are borrowing in capital markets at the second-fastest pace on record and at the cheapest rates ever.
Bettina Mueller at Deutsche Bank is astonished the market is turning so quickly and doesn’t understand it. Mueller expect compromise on the fiscal cliff.
Read the full article at http://www.bloomberg.com/news/2012-11-12/u-s-stock-futures-climb-as-apple-gains.html