Softer tones observed in early trades
- German DAX futures -2.3%
- France CAC 40 futures -2.0%
- UK FTSE futures -1.5%
In part, this reflects the softer tone from US futures - which are down by about 0.5% - but more so the failure by European leaders to get anything done when it matters most.
Sure, they agreed on the need for the virus recovery fund but the details and everything else has just been kicked down the road once again. We've been here one too many times.
