DAX still in the red this morning

Since reopening today the DAX has yet to get back into positive territory. As noted here earlier, the index closed on Friday at 18,699. It reopened today at 18,621. The low seen so far gas been set at 18,621 and the high is at 18,661. On the one hand the index is being supported by potential M+A demand flow, but on the other there is nothing in the German economic data to support the index at these near record levels. That has been stated here many times, but it is what it is folks and the reason behind that also comes as major European lenders continue to offer little alternative in terms of longer term cash deposits. That point was also made here previously and it continues to look like that is a driver supporting the index, when all the fundamentals would suggest it should not be so. As you can see; so far this morning the index is yet to climb back into the green, currently trading at 18,650