The markets are relatively quiet this morning after a low-volume Christmas Eve mini-sell-off. With the final four trading days of the year ahead, all eyes are turned towards an empty Washington, D.C. as investors await the return of Congress and President Obama in a final round attempt to resolve the Fiscal Cliff.
Otherwise, little has changed since Monday morning as the markets appear to expect at least some sort of short-term stop-gap measure to blunt the full effect of going over the Fiscal Cliff in the absence of any major agreement and resolution. Thus it is more a matter of wait-and-see as we see no reason to make any aggressive moves here pending further evidence.
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