Ten, Nine, Eight, Seven…

President Obama took to the podium today to discuss the status of Congress’ efforts to avert the self-created crisis known as the fiscal cliff. Unsurprisingly, he confirmed that there will be no grand bargain – that is, they aren’t going to attempt to deal with either long term spending or the debt ceiling in this package. Far from being the last installment of Congressional gridlock over a manufactured crisis, it seems almost certain now that we’re going to be rerunning this drama again in the coming years (especially if the polarization of Congress continues as it has recently).

But Obama did sound positive that a deal on taxes had been reached to let rates rise for higher-income Americans while keeping them flat for everyone else (in turn sending stocks higher and bonds lower) After Boehner made it clear that the Republicans would accept an increase in the tax rate, it essentially became a question not of if, but of how much. Business Insider has a breakdown on how that tax deal is shaping up.

The sequestration still needs to be taken care of, and on this Obama implied that there’s still a fair bit of work to be done. Deciding what to cut and how much was always going to be tough – few things enrage voters as much as seeing their favorite social programs slashed. But it appears that, with no more time to kick the can down the road, the threat of the cliff has finally elicited some action from Congress. Perhaps we’ll find out exactly what that means before the night is over.

Tonight when revelers are counting down from ten, it might not be a part of their New Year festivities – they may be counting the seconds until Congress finalizes the details of the fiscal cliff deal.

The real question for managed futures is what happens when the hangover cures and markets get back to business on Jan 2nd. A failure to reach a deal and big sell off would be just what the doctor ordered for the asset class, which will put in its third losing year in the past 4 after closing out 2012 today. Here’s to better times (for managed futures) ahead.

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Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, RCM's own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

See the full terms of use and risk disclaimer here.

Disclaimer
The performance data displayed herein is compiled from various sources, including BarclayHedge, RCM's own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.

Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.

Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.

Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.

Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.

RCM receives a portion of the commodity brokerage commissions you pay in connection with your futures trading and/or a portion of the interest income (if any) earned on an account's assets. The listed manager may also pay RCM a portion of the fees they receive from accounts introduced to them by RCM.

See the full terms of use and risk disclaimer here.