Wall Street's fear of missing out on a relentless rally appears to be trumping rising political risk in a high-stakes December in Washington. The ticking clock on the Republican Party's efforts to cut corporate taxes, alongside the risk that the US government may shut down if a budget deal isn't reached by December 8, is increasing the levels of political risk for investors - but they have yet to really react. "Right now the market is assuming that everything will work out, but you've got a tremendous number of moving parts," said Phil Orlando, chief equity market ...
Fear of missing out keeps investors in stocks despite risks
If the tax bill fails, Orlando said he expected the S&P 500 to fall by as much as 10 per cent
David Randall | Reuters |