· With little more than a day left to avert the fiscal cliff, US budget talks stall over income tax rates, the estate tax and some other issues
· Meanwhile, US Secretary of State, Hillary Clinton was sent to the hospital this morning with blood clot stemming from a concussion she suffered earlier this month and was being assessed by doctors
· Most Asian stocks declined, paring this year’s advance, with a deadline looming for the US Congress to reach a budget agreement before the so-called fiscal cliff of automatic tax increases and spending cut takes effect
· China’s central bank said it will focus on controlling risks in the financial system and seek “stable and appropriate” growth in aggregate financing, a measure of funding that includes loans and stock and bonds sale
· South Korea’s inflation eased to the slowest pace in four months in December, staying below the nation’s price target even as an economic recovery shows signs of gaining momentum
· Singapore property stocks, the best performers on the benchmark Straits Times Index this year, are set to extend their gains in 2013 on higher demand for homes, offices and hotels, according to UOB – Kay Hian Pte.
· US fiscal cliff outcome is likely a combination of limited fiscal progress and very easy money that will likely be dollar-negative, says Steven Englander, global head of G10 FX strategy at Citigroup
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