News Headline Summary

Representative Van Hollen says they are not close to a deal

Reaction details (15:13)

- In reaction to this comment US equity markets see selling pressure, with the e-mini S&P moving lower from 1414.75 to 1410.50 in four minutes.
- T-notes were more resilient to this latest development, although trade near to highs of 133.31+ at 133.33 last.

Analysis details (15:17)

- This latest comment is in contrast to reports of progress between the Democrats and Republicans yesterday, with US House Speaker Boehner saying they are willing to put revenues on the table if accompanied by spending cuts, and is optimistic that a deal with Obama can be reached.
- Yesterday the WSJ wrote that the White House is flexible on level of top tax rates.

- Van Hollen is the U.S. Representative for Maryland's 8th congressional district, and is a member of the Democratic Party.

29 Nov 2012 - 15:10 - Equities Bank Speaker - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: