German Establishment Routed: AfD Second In Former East Germany; Result “Less Market Friendly Than Expected”
by Tyler Durden
ZeroHedge.com
Sep 24, 2017
The first sellside comments on today’s German elections – which as a reminder was a disaster for the German establishment, following the worst showing for the CDU/CSU since 1949 and the worst result for the SPD since 1945 with support for both parties tumbling since the 2013 elections…
… have started to trickle, in and according to SEB, the result is ‘less market-friendly’ than expected.
Quoted by Bloomberg, SEB cross-asset strategist Thomas Thygesen said that the result is a victory for Angela Merkel as expected, but her mandate going into negotiations about deeper euro integration does not look quite as strong.
“It looks like marginally less market-friendly than expected,” Thygesen said adding that “I’d say this is in line with our expectation that the euro would pause around $1.20 vs dollar and then maybe retrace a couple of percent over the autumn.”
The Rest…HERE
