• International Business Times
  • See all for International Business Times
  • View Print Version
More from International Business Times

Weekly Fundamentals - WTI-Brent Spread Widened to Highest Level in More than a Year

By International Business Times,  November 17, 2012, 10:42:16 AM EDT

Market sentiment was mildly bearish last week as economic data disappointed and the focus, after Obama's reelection, has been re-directed to fiscal cliff in the US and sovereign debt crisis in the Eurozone. Unfortunately, both issues have so far lacked promising resolutions. While it's widely anticipated that the While House would attempt to alleviate the impact of expiration of the Bush-era tax holiday and the automatic beginning government spending cut in 2013 but allowing extension of certain kinds of tax reduction. Democrats and Republicans were still split on issues such as whether the government should raise taxes on the middle class. In the Eurozone, the EU meeting was a non-event. EU finance ministers failed to agree on the next tranche of bailout fund for Greece. An emergency meeting will be held on November 20, hoping to find a decision. Meanwhile, European Economic Affairs Commissioner Olli Rehn's said that the country did not need to adjust its budget despite the likelihood of a fiscal shortfall this year. According to the Rehn, Spain has taken "effective action in 2012 and 2013" and the consideration was "not so much focused on the nominal targets, even though they often make easier headlines because they are exact percentages". Spanish Finance Minister Luis de Guindos stated that the government would meet its 2012 deficit target and said that it's only acceptable for the country to pay no more than 200 bps over bund for financing instead of the current 450 bps.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



Latest News Video

Interstate 5 Bridge Collapses in Washington State
Interstate 5 Bridge Collapses in Wa...
29 New Jersey Bars Accused of Fraudulent Booze Sales
29 New Jersey Bars Accused of Fraud...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.21 0.10  0.75%
HPQ $ 24.86 3.63  17.10%
SIRI $ 3.545 0.01  0.28%
MU $ 11.39 0.47  4.30%
MSFT $ 34.15 0.46  1.33%
F $ 14.81 0.16  1.07%
QQQ $ 73.45 0.17  0.23%
GE $ 23.66 0.20  0.84%