ECB's hawkish tone & DAX resilience - anyone else watching these levels?
Been following the ECB commentary closely this week, and the messaging around persistent inflation and the need for higher rates seems to be firming up. It makes you wonder how much more the market has already priced in, especially with the DAX holding up relatively well despite the rhetoric. I'm looking at $COMP's daily range of 11.71–12.27 and thinking about how those kind of intra-day moves reflect broader sentiment, even if it's not a direct proxy for European equities.
My watchlist for European banks and some rate-sensitive industrials is certainly getting more attention. On one hand, a prolonged hawkish stance could put a dampener on growth prospects, but on the other, banks benefit from higher rates. It feels like a delicate balance right now. Anyone else focusing on specific sectors or individual names in light of the ECB's comments, particularly around how much further upside or downside we might see in indices like the DAX?
The DAX resilience is puzzling given the hawkish ECB, but comparing it to COMP's intra-day range seems like a apples and oranges comparison. Different markets, different drivers.