Stocks At Record Highs Reflect Market Confidence In President Obama, GOP Sequester Deal: JPM Economist

With a lot of fear mongering and concerns the economy is stagnating or may even fall into a deeper recession than in 2008, JPMorgan’s Anthony Chan is unusually bullish.  He believes stock markets at record highs are a reflection of confidence in Washington, as President Obama and the GOP will probably once again reach a deal.  He sees falling unemployment as a Fed-boosted number, yet one that will feed business and consumer confidence.  Chan doesn’t fear the sequester, and...