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DAX flagging again as even the FTSE 100 turns south
The DAX has not long ago hit fresh session lows, as the US stock markets turn lower again and US yields rise. In fact, yields everywhere are rising. The US 10 year has topped the 5% mark and the UK 10 year has reached another post 2000 high this afternoon, at 5.44%. The FTSE 100 has now dropped back below the 10,700 handle.
This is just the news that the BOE, Fed and the ECB did not need and now the markets are pricing as many as 4 rate increases from the ECB by the end of next year. That is pretty toxic for European stocks and the news is not lost on the DAX for sure. The index has just now traded 25,340. It is right now at 25,365
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