Markets await election result

Traders work on the floor of the New York Stock exchange on in New York City.

With election day just around the corner, the markets will likely be quiet over the next few days as investors assume a wait-and-see approach. The election won't instantly resolve anything, but it will bring a sense of certainty. Companies and investors will at least know whose vision will set the economic agenda going forward.

Julia Coronado, chief economist with BNP Paribas, says investors are looking for the outcome of the election to provide clarity in two areas: "The first thing investors will be focused on will be how the fiscal cliff is resolved, the second issue is monetary policy -- who would the next Fed chair be under Romney versus Obama."

About the author

Julia Coronado is chief economist at BNP Paribas.

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