I wont bore you with my political beliefs but if truth be told I am secretly very happy with last nights election result. I am a firm believer that Obama has steadied the ship amidst some very rocky waters over the last four years and now look forward to him loading up the engines and going full steam ahead from this platform. Also from what I witnessed in watching the third and final debate between the two candidates it frightened me a bit to think that Romney would be handed control of the US, I am no political expert but his aggression towards China and seemingly lack of diplomacy or knowledge towards the middle east could have created a very unstable situation for the neutrals amongst us around the world.
The article here refers to the most likely situation of how Obama pulled off this campaign, in marked contrast to his last campaign where he avoided dirty tactics this one was more aggressive and a touch more unsavoury. They made the decision to allocate the majority of their advertising spend early on in the campaign ( which is eye-wateringly large) in order to shape opinion before Romney even had a chance to pull his socks on. This go big or go home attitude I feel certainly played out well over the course of the campaign and apart from one slip up in the first presidential debate where Romney gained some traction ultimately saw Obama over the finishing line with little difficulty.
Across the markets assets have responded mixed as the market and risk assets caught a good solid bid last night ahead of the results where you saw Gold rally and the dollar drop exactly as most pundits were pointing to. Things have cooled off a little here while investors steady the ship and do their numbers and assess the situation. I keep talking about it but markets hate uncertainty and this is just another uncertainty off the list. Next up is the fiscal cliff which you will eventually get very bored of hearing but in my opinion they (congress) will get it done and sorted, when it comes to a crisis they get themselves together quicker than you would think, certainly quicker than the snails in Europe.
Overall I am quietly bullish on markets for the coming months and feel that data is pointing to some signs of momentum in the US and China and hopefully the bottom is at least in sights in Europe.
In troubled times you have to be optimistic that things can and will get better, it just takes patience and hard work.