A firmer start to the European morning
- Eurostoxx +1.5%
- Germany DAX +2.7%
- France CAC 40 +1.9%
- UK FTSE +1.4%
- Spain IBEX +3.8%
It is a sign of the times that even 2-3% gains are seen as being "mild" or a bit "shaky" but I would argue that it is certainly the case as we begin European trading today.
So far, the risk mood is helped by the US Congress reaching a bipartisan agreement on the stimulus bill with US futures also up by over 1% currently.
Hope is a good fire-starter but there needs to be more in order to keep the flames burning.
Once the exuberance settles down - it could be today, it could be next week, the next key question is whether these stimulus measures are going to be enough.
And that is a question that investors will have to think long and hard about as we continue to see lockdowns across the globe as the virus fallout looks set to continue into April.
