DAX up 0.9% to a record high in early trading today
The ECB has not been shy to verbally talk against the recent rise in yields as of late and the rehash of more accommodative policy is feeding to better tones in European stocks this week. This follows from Panetta’s strong comments yesterday here.
Policymakers have not been shy to talk up the potential need to tap into the PEPP envelope and investors are able to take some comfort in that.
Adding to the positive mood today is that US futures are also pushing higher on the day, with S&P 500 futures up 0.7% and Nasdaq futures up 1.0% to session highs.
There is still a sense of push and pull in overall risk sentiment but it looks like dip buyers are keen to brush aside the declines from yesterday for the time being.