Markets Wonder: Can We Get to Plan C B4 Year End?

“The U.S. House of Representatives Speaker John Boehner called off a vote on Thursday to raise taxes for wealthy Americans in a proposal dubbed “Plan B,” bringing the country on the brink of going over the “fiscal cliff.”

A series of tax increases and spending cuts are expected to kick off on January 1, if lawmakers don’t reach a compromise and this could push the U.S. economy into a recession.

But analysts told CNBC they expect a “Plan C” within a few days that would help U.S. avert a fiscal crisis.

“I’m sure a ‘Plan C’ will materialize over the next few days, there’s time for things to be renegotiated, and 2013 will be in better shape for equity markets,” said Jim McCafferty, managing director and co-head of equity research with CIMB Securities in Hong Kong….”

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