As expected – no progress on the “fiscal cliff”. From the WaPo: Senate negotiators search for deal to avoid the ‘fiscal cliff’
Still no deal.
There were signs of renewed effort in the talks to resolve the “fiscal cliff” crisis late Sunday afternoon. For one thing, direct talks had begun between Senate Minority Leader Mitch McConnell (R-Ky.) and Vice President Biden. Republicans exiting a mid-afternoon caucus meeting said that McConnell had excused himself to take a call from the vice president.
Those two Washington veterans have become the capital’s unofficial closers, hammering out the agreement that resolved a fight over tax cuts in late 2010, and the debt-ceiling crisis in August 2011.
But their task could could prove far more difficult this time around.
The markets will close early on Monday – Happy New Year to all!
Monday economic release:
• At 10:30 AM, the Dallas Fed Manufacturing Survey for December will be released. This is the last of the regional surveys for December. The consensus is an increase to 1.0 from -2.8 in November (above zero is expansion).
The Asian markets are mostly red tonight; the Shanghai Composite index is up, and the Hang Seng down.