(As of 7:22 am pacific)
Polls are shifting to the
Obama side as most are now calling an Obama victory probable. The clarity provided is boosting stocks even
though analysts had suggested that an Obama victory would more likely boost the
bond markets. A Romney victory is more
likely to rally stock markets according to analysts, but an Obama victory is
likely to see a continuation of the ‘Helicopter Ben’ philosophy, the thought
that economic malaise can be turned around by throwing massive amounts of
stimulus dollars at the problem. The
dollar is down across the board while most commodities, including oil and gold
are up moderately. Interest rates are
stable, while mortgage interest continues at be historically low. Expect markets to give up gains today and
finish close to unchanged.
