Economics and Politics Served up at Midwest BankCentre’s Ninth Annual Forecast Breakfast on Oct. 18, 2012 in Frontenac, Mo.

ST. LOUIS – Do the markets have a political party preference for the Nov. 6, 2012 election outcome?  Not according to noted analyst Jeffrey Kleintop, the keynote speaker at the ninth annual Midwest BankCentre forecast breakfast on Oct. 18, 2012 at the Frontenac Hilton in Frontenac, Mo.  “The markets will welcome prospects for action, not kicking the can down the road as the nation faces the looming ‘fiscal cliff,’” noted Kleintop. Kleintop, vice president and chief market strategist for Boston-based LPL Financial, addressed more than 200 business leaders at the breakfast. He was joined by political strategists Michael Kelley, principal, The Kelley Group and John Hancock, president, John Hancock and Associates. Ronald T. Barnes, chairman and director of Midwest BankCentre, chaired the event. 

"Business owners will demand that those they vote for in the upcoming election address our nation's structural challenges with permanent, long term solutions,” said Barnes.  “Kicking the can down the road will not be acceptable.  Only then will business owners feel comfortable hiring new employees and making new capital investments in their respective businesses."

While there is little evidence markets fair better with a Democrat or Republican in the White House, Kleintop did produce a LPL evaluation of market segments likely to react favorably to one party.  The breakout included:

Favorable to Democrats

• Health care facilities
• Food & staples retailing
• Gas utilities
• Health care services
• Life sciences tools & Services
• Construction materials
• Homebuilding
• Construction & farm machinery

  Favorable to Republicans

• Coal & consumable fuels
• Diversified financial services
• Oil & gas exploration & production
• Oil & gas drilling
• Managed care
• Electric utilities
• Specialty retail
• Telecommunications services

Kleintop holds a bachelor’s degree in business administration from the University of Delaware and a master’s degree in finance from Pennsylvania State University. Prior to joining LPL Financial, he was chief investment strategist for PNC Financial Services Group.  Kleintop is regularly tapped by Bloomberg, CNBC, Fox Business and The Wall Street Journal.

Michael Kelley is founder of The Kelley Group, a full-service public affairs and advocacy consulting firm.  John Hancock is founder Hancock and Associates, a full-service political consulting, research, government relations, and public affairs firm.

Founded in 1906, Midwest BankCentre (www.midwestbankcentre.com) provides integrated financial services with an expertise in commercial and retail banking, including checking and savings accounts, business cash management, mortgage lending and wealth management.  As a community bank, MBC makes decisions on a local level and clients have full access to the executive team. Since 2001, it has consistently achieved the BauerFinancial 5-Star Superior financial rating.