Despite record low bond yields and all the promises one can bear from politicians and central bankers, thepeople of Europe are the least confident since February. At -11.6, missing expectations of a slight improvement from -11.1 to -10.7, this is the biggest miss since August 2011. It’s perhaps not surprising given the near-record highs in unemployment but oddly, confidence seems highly correlated to EUR strength (or weakness)… the opposite of what the market hopes for.
EU Confidence at 9 month lows…
This post was published at Zero Hedge on 11/20/2014.
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