News Headline Summary

Moody's says would maintain US rating, outlook in event of fiscal cliff, await further cues

Says:

- US delaying budget action until 2013 looks increasingly likely.
- US election result gives little clarity on fiscal outlook.
- US political landscape remains highly polarized and unpredictable.
- Divided US popular vote provides fertile ground for political posturing.

Update details:

- The US sovereign rating will be closely watched by investors as we had into year end and the potential fiscal cliff.
- These comments may ease some investors minds but the looming uncertainty about the near-term future for the US economy will likely provide headwinds for the next couple of weeks.

Reaction details:

- No reaction observed in any asset classes but may draw some attention at the European open.
- Remember US markets will be quiet today due to the Venteran Day holiday.

Print 02:36, 12 Nov 2012 - Asian News - Source: Newswires