ECB's Hawkish Stance and EU Equities

The latest rhetoric out of the ECB regarding persistent inflation has been a bit more hawkish than some expected, which frankly, makes sense given the data. They're clearly signaling that cuts aren't a done deal, at least not at the pace the market had priced in earlier. This obviously impacts European equities directly. I'm watching the DAX closely here, particularly the more rate-sensitive sectors. We've seen some of the froth come off, and if the ECB holds firm, we could see further consolidation. Not necessarily a disaster, but definitely shifts the risk/reward for some names I was tracking. The carry trade narrative with the stronger yen, like $MXNJPY trading around 9.25, isn't directly impacted but shows that global central bank divergence is a real thing we're dealing with across the board. It's a tricky environment, demanding patience and selectivity, no blind buys.