Overnight roundup courtesy of Spreadex – 04/09/13

European markets opened prudently this morning as news reports that President Obama has secured the backing of two key Congress officials for a military strike in Syria reminded investors that the potential for war is still lurking.  Although many now believe that if a strike was approved, this would likely occur in a much smaller scale and involve a fewer number of countries than initially expected.  Despite this, the possible legal repercussions from Syria’s allies, which include China and Russia, if the strike does happen without UN approval is still troubling investors. 

Thus, investors should look out for any signs of volatility until at least the 9^th of September when the US congress reconvenes and the markets receive more information as to officials’ intentions towards Syria.   

Focus will also be on the US today, but for reasons which do not include Syria, on the release of the Fed’s latest Beige Book to gauge the effectiveness of the current low-interest rates on growth.  Although there is unlikely to be any more information on the supposed tapering of stimulus measures, investors will likely use any key indications on the current growth to extrapolate their own conclusions as to when the feared reduction in such measures are likely to occur.