Equities soared and recession fears eased

Dax soared Monday recouping the losses posted last Wednesday as investors increased expectations the ECB will cut interest rates and after the report saying the German government was prepared to take on new debt to lift the economy. German Finance Minister Scholz over the weekend said that Germany has the fiscal strength to mitigate any future economic crisis with “full force.” More support came as the PBOC announced a reform of an interest rate. Gains were capped as Eurozone inflation came slower than expected at 1.0% in July. Equities are bullish ahead of ECB meeting. Recession fears eased. 11 900 in sight.
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