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DAX Holding Up - What Gives?
Saw the DAX staying remarkably resilient today, considering the latest ECB hawkish commentary. With core CPI still elevated across the Eurozone, you'd think there would be more jitters about rate hikes impacting corporate earnings. I'm keeping an eye on the industrials; if they start to crack, that strength might evaporate quickly.
1 comments · 1 points
I think the resilience is mostly due to positioning rather than fundamental strength. A lot of the bad news is already priced in, and until we see actual earnings misses from the big industrials, the market might just tread water. Doesn't mean it's strong, just not getting pushed lower right now.