ECB rhetoric still holding DAX range

Watching the ECB's continued hawkish tone, even as some inflation data softens, seems to be keeping a lid on any significant upward move for the DAX. It's difficult to get conviction on longs when rate hike expectations are still being guided higher, or at least maintained, despite the energy situation. Keeps me mostly on the sidelines for direct European equity plays for now, looking more at selective sectors that might be less rate-sensitive or have strong export exposure.