At the Mercy of PoliticsJanuary 03, 2011 Posted by: Joe Morgan, CFAThe views expressed in this column are solely those of the author and do not reflect the views of SVB Financial Group, or Silicon Valley Bank, or any of its affiliates.
Fall always seems to be an eventful season for the markets. Although the fourth quarter did not see outsized drama in market prices, many changes occurred that will affect market prices in quarters to come.
First, as expected, the Republicans took the House and gained significantly in the Senate. It’s likely that voters were expressing their displeasure with current economic activity rather than looking toward the GOP as a savior. Little reaction was seen in the markets as this outcome was widely expected. Now, the focus shifts to whether successful action will be taken in Washington to get the private sector economy growing again.
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