The ECB has remained under pressure to cap peripheral bond spreads since the @BVerfG 's 5 May ruling. At the current 'crisis' pace of €6.5bn per day, the PEPP envelope would be exhausted by mid-September. An expansion remains likely at the 4 June meeting (by €500bn in our view).
It was the best of times... S&P 500: All-Time High Dow: All-Time High Nasdaq: All-Time High NYSE: All-Time High Mid-Cap 400: All-Time High Wilshire 5000: All-Time High Global Dow: All-Time High ?????? ?
Good morning from #Germany , where stocks have lost $500bn in market cap this year w/benchmark index Dax -18.3%ytd, Mid-Cap index MDax -17.6%ytd. All German stocks are now worth only $1.9tn, less than world's Top 3, Microsoft ($776bn), Apple ($741bn) and Google ($724bn), combined.