Wagers on President Barack Obama’s re-election are rising in tandem with stock prices, just as the fortunes of his Republican predecessor George W. Bush did in 2004, suggesting incumbency counts more than party affiliation in the markets.
Dan Kowalyshyn figures he owes about $200,000 more than what his four-bedroom house is worth today. It faces a cul-de-sac where three of the six homes have been lost to foreclosure since his $570,000 purchase in 2006.
Since Federal Reserve Chairman Ben S. Bernanke in September began a third round of asset purchases aimed at lowering interest rates and spurring growth, bond yields have climbed. The trend may signal that his program is working.