Markets Yawn at Political Drama as Economic Optimism Prevails
- S&P 500 total return on pace for longest streak on record
- Equity, bond, currencies subdued despite political turmoil
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With Catalan separatists raging, a cloudy outlook for U.S. tax overhaul and all eyes on who President Donald Trump will nominate to head the Federal Reserve, there are a lot of risks out there for investors. Or at least you’d think there were.
Despite the headlines, financial markets are experiencing unprecedented calm and unprecedented gains. Take the S&P 500 Index, which has posted a positive total return in every month since the election. The gauge is on its longest daily winning streak since 2013, and if October ends green it’ll be the best monthly stretch in nearly 90 years, according to a Deutsche Bank AG analysis.