The impact of the fiscal cliff is going to be tempered, which will leave room for the housing market and global improvements to drive up growth in equities markets, according to the ING 2013 investment outlook.
Although Washington is walking a tightrope, there should be some kind of agreement by 2013, Paul Zemsky, chief investment officer at ING U.S. Investment Management, said. We may need the markets to actually riot, meaning the S&P fall and spread product widen if we do get into this situation, but eventually politicians will do the right thing.
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