After the 'buy' before the US elections, and the 'sell' after the elections, the markets are returning to the slow growth trend that characterized them. The real economy in the two most important countries – the USA and China – is improving (today the data on the sale of existing homes in the United States are expected to be positive), and Obama helped to dispel what was once a thick pall of fog weighing down on the markets: the uncertainty about the outcome of the attempts in America aimed at avoiding the famous – or rather infamous – 'fiscal cliff'. The US president's optimism boosted markets in Asia (where Obama is now) and the MSCI Asia Pacific regional index is up more than 1%. The growth of quotations is widespread: all ten sectors that make up the index are on the rise.
However, oil rose above 87, in line with the worsening situation in Gaza. The euro is up (tomorrow there will be yet another European confrontation on the Greek saga) while the yen continues to be weak, in the wake of the declarations of the likely winner of the next Japanese elections, who has pledged to convince the Bank of Japan to create more money to beat deflation.
