Scoreboard: Presidential lag

Markets were subdued after the President’s Day holiday and mixed data from Germany and the US.

Coming back from the President’s Day holiday, US punters didn’t feel like doing too much with equities and it was a fairly subdued session. Most of the action was in other markets. Equities themselves were largely flat around the globe, mixed data neither adding nor detracting to that tone. The key release overnight was the German ZEW survey (a survey of investor sentiment). This showed a mixed outcome, with the current situation index spiking to 50 from 41.2 – well above average – although the economic sentiment index fell to 55.7 from 61. Still well above average, but of course the momentum is all wrong.

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