Move along, folks. Nothing to see here. The re-election of President Barack Obama presents the prospect of no change to US economic policy – or to market sentiment. True, investors have been spared the scattergun policy approach of a Romney administration – including a possible trade war with China over its currency, or the sidelining of US Federal Reserve chairman Ben Bernanke. As for four more years for Mr Obama, tomorrow’s policy gridlock will look much like yesterday’s.Investors’ immediate focus will be on the so-called fiscal cliff. Under this scenario, $600bn of tax rises and spending cuts are due to take effect in 2013 unless Congress acts to prevent that from happening. While investors wait for Congress to get its act together, there are other factors to consider.
散開吧，夥計們，這裏沒什麼好看的了。美國總統巴拉克•歐巴馬(Barack Obama)連任意味著美國經濟政策（還有市場情緒）將不會改變。沒錯，投資者不用面對羅姆尼上臺後推行「霰彈槍政策」帶來的麻煩，包括可能圍繞人民幣問題與中國爆發貿易戰，或者美聯準(Fed)主席班•柏南奇(Ben Bernanke)遭到邊緣化。至於歐巴馬的又一個四年任期，未來的政策僵局看上去將和往日一樣。投資者眼下關注的重點將是所謂的「財政懸崖」。「財政懸崖」意味著，6000億美元的增稅和削減支出措施將在2013年自動生效——除非國會及時達成協議阻止這種局面。在投資者等待美國國會採取正確行動之際，他們還需要考慮其他因素。