Market Focus
A short trading week is coming because of the Christmas holidays. Equity volumes are expected to fall sharply next week. In U.S., “fiscal cliff” is still the main concern of investors as the negotiation comes to the final nine days before deadline. Stalled fiscal cliff negotiations have fueled concerns the U.S. could face a recession in 2013if the country fails to avert the cliff.
In Europe, Italy will sell 10-year bond on Thursday. The average rate dropped to 4.45 percent, the lowest point in recent month, in the auction which held in the last week of November. Investors do not expect the yield will move far away from 4.45 percent in the coming auction.
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