Don't Get Carried Away With Fiscal Cliff Optimism
But it's difficult to parse any detailed information that would suggest Congress will reach a meaningful budget deal.
"The markets are encouraged that we're on the cusp of a 'Kumbaya' moment in Washington, and that we'll get some kind of an agreement that will stave off the big tax increases and the spending cuts," said Alan Gayle, senior strategist at RidgeWorth Investments.
When asked by reporters over the weekend about rumors of a working fiscal-cliff framework, White House Press Secretary Jay Carney said congressional leaders and the president hoped to achieve a balanced approach to deficit reduction."
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