Stocks Continue the Party on Fiscal Cliff Optimism
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) rallied hard for the second straight day as increasing optimism regarding a fiscal cliff deal emboldened traders. In recent days we have seen both President Obama and House Speaker John Boehner offer compromises on highly partisan issues like tax rates and entitlement forum and the reduced uncertainty has the market in a good mood. We've seen a rapid switch to "risk-on " with significant outperformance in economically sensitive areas of the market like small caps technology and energy. There has also been a steepening of the yield curve a bullish shift for bank ...
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