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So, the Markets Don’t Like Obama…

November 12, 2012

Markets weakened over the ensuing several days although disquieting news out of Europe was partially
to blame for this as well.
-Jason Pride, director of investment strategy, Glenmede

  • So the markets don't like Obama...

    President Obama and the Democratic party emerged victorious, as the President kept his office and Democrats picked up several seats in the Senate. The Republicans maintained their firm control of the
    House, however, meaning that the no major changes occurred in terms of the governmentís structure.

    - Markets weakened over the ensuing several days although disquieting news out of Europe was partially
    to blame for this as well. It cannot be denied, however, that markets are concerned regarding the
    fiscal cliff, which is now only weeks away.

    - Behind the scenes, economic momentum continues. So far, despite some near-term disruption (~0.5% of GDP) from Hurricane Sandy, the economy continue to exhibit strengthening economic momentum.

    -Leading economic indicators, not yet reflecting Sandyís impact, continue to show improvement.
  • Further, the Fedís quantitative easing should remain a net positive underpinning force as well.

  • Status quo ante, or have politicians moved forward?

  • Wherefore art thou, Mario?

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