Monday 12, November 2012 by Matein Khalid

Wall Street -- US equities: What now?

The American stock market greeted the Obama reelection with a serious grizzly attack, despite the fact that Intrade predicted an Obama win 72-28 on Monday night, thus vindicating my strategy idea to short defense, financial and dividend shares on the NYSE. Yet I am puzzled. If a fiscal cliff is inevitable, corporate/high yield debt risk must spike higher as US recession would also become inevitable.This has not happened so far though I am stunned by the global scramble into US Treasury notes.