The agreement to avert the US fiscal cliff is the ultimate example of a Pyrrhic victory, according to PSigma CIO Tom Becket.
Asian markets received a New Year's boost as the US House of Representatives passed a last minute deal to prevent the US falling over the fiscal cliff.
Now we have published our final issue of Investment Week for 2012, we reflect on what has been a rollercoaster year characterised by big changes in the fund management industry.
The year started off well for US investors as its major stock markets hit fresh highs in the first half.
Progress in the fiscal cliff talks being held in Washington has given Wall Street a lift as the threat of a possible recession is averted.
The US economy grew 2.7% in the third quarter of the year, a significant upwards revision from the first reading of the data.
Wall Street opened higher today as optimism from early-stage talks in Congress about tackling the US fiscal cliff spread to markets worldwide.
Global markets rallied today after fiscal cliff talks between President Barack Obama and Congressional leaders stepped up a notch over the weekend.
The S&P 500 has opened down 1.4% and the Dow Jones Industrial Average has shed 200 points in the first trading session after President Obama's election victory.