European Banks have crushed the Mag 7 since the start of 2022.
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long-term yields continue to rise following the announcement of a major debt package, with 10y yield on the way to 3%.
Financial markets expect neither the Greens nor the Federal Constitutional Court to block the package. While a two-thirds majority is needed in parliament, legal challenges are still pending before the court. Source: Bloomberg, HolgerZ
Mind the gap...
WisdomTree launches first European-only defence ETF. In white >>> Wisdom Tree Europe Defence index In yellow >>> NYSE Arca Defense Index (DFI) Source: Bloomberg, HolgerZ
Ferrari, which spun out from Fiat seven years before Porsche went public, has raced ahead in the (nearly) 10 years since it hit the market.
Unlike its German rival, the Prancing Horse has kept investors enamoured with measuredly infrequent supercar drops, impressive delivery figures, a loyal customer base, and (unlike other luxury titans) its relatively low exposure to China — though even “relatively low” can still be too high. Ferrari shares were up 760% from its 2015 IPO at Tuesday’s close. Source: Chartr
Greenland Election:
A SURPRISING RESULT ‼️ The Democrats (Center-Right) and Naleraq (Right) have almost 54% of the vote, meaning if they wanted to they could form a ruling coalition that, from what I have read, would likely be more USA centric than Denmark centric. About 65% of the total vote is in (51/72 stations), Democrats in first then Naleraq and then Inuit. Source: CA ET Nerd @earlyvotedata
HolgerZ:
"US President Donald Trump is dealing a lasting blow to confidence in the US, its products, and its stock markets. US exceptionalism is under threat from uncertainties about Trump’s political and economic policies" Source: Bloomberg
Switzerland remains the best migration destination in the world
Source: Visual Capitalist
‼️ BREAKING: EU EQUITIES UNDER PRESSURE ‼️
Germany's Greens won't support draft debt package in parliament. The CDU/CSU and SPD need the support of the Greens to achieve the two-thirds majority in the Bundestag in its old composition. The FDP, which was represented in the old Bundestag, will hardly vote in favor of such a debt package. Source: HolgerZ, DB
