The supercommittee was facing a Nov. 23 deadline to carve out $1.2 trillion in deficit reductions. [Treasury ETFs and the Supercommittee Deadline]
A deficit deal was seen as a necessary ingredient for a year-end rally in U.S. equities. [Stock ETFs Eye 200-Day Averages, Supercommittee Deadline]
SPDR S&P 500 ETF
Full disclosure: Tom Lydon’s clients own SPY, GLD and SLV.