Just when one thought the posturing couldn’t hit more ridiculous levels, here comes GOP Senator Mitch McConnell refuting what the president said, refuting the supposed GOP revulsion to the president’s prior statement, and stating that there is actually a deal, although if there actually was a deal, there would be voting going on right now, and passing it, instead of endless useless speeches meant simply to ramp headline scanning algos higher:
- MCCONNELL SAYS AGREEMENT REACHED ON ALL TAX ISSUES
- MCCONNELL SAYS `WE’RE VERY, VERY CLOSE TO AN AGREEMENT’
- MCCONNELL SAYS HE REACHED OUT TO BIDEN TO SOLVE FISCAL CLIFF
- SEN. MCCONNELL SAYS `LET’S PASS THE TAX RELIEF PORTION NOW’
So if agreement on tax issues, what is there disagreement on? Oh yes, there is no agreement on the spending side, but who needs details.
And while everyone follows their talking points, and is taking the charade to unseen before heights, nobody has voted on anything yet, and nothing has actually passed Congress. But once again, the algos seem to like it, for now, and are taking the market on yet another stop run higher.
Let’s see if this can break now that ES VWAP is up to yesterday’s…