Reid-On; Risk-Off

Tyler Durden's picture

The cone of silence has lifted; and while some will argue that correlation is not causation, we present a today's market performance (and volume) and Harry Reid's well-chosen words of un-compromise. Stocks fell dramatically on heavy volume as the 'efficient' discounting mechanism somehow hadn't expected a bumpy ride to the end of the year...

 

 

It seems the broader risk market was far less sanguine about the hopes of a seamless transition to a fiscal cliff solution than stocks and had been leading us lower all day... stocks caught down to that reality after-hours...

 

Charts: Bloomberg and Capital Context