Branch2 Intelligence
Europe's STOXX 600 clocks best week in over a month as rally broadens
Key takeaway
European STOXX 600 and DAX hit all-time highs on bets against imminent US rate hike and easing inflation.
- Step 11st-order: US inflation data and Fed commentary reduce expectations of rate hikes, lowering US Treasury yields.
- Step 22nd-order: Lower US yields and improved risk appetite drive capital flows into European equities, lifting STOXX 600 and DAX to record highs.
- Step 33rd-order: European equity rally reduces the cost of equity capital for European companies, improving their financing conditions and investment capacity.
Source: IN:Economic Times
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