In Major Disappointment, Merkel Wins German Election Despite Worst Result Since 1949; AfD Surges To Enter Parliament

Germany, ARD exit poll: Far-right #AfD (ENF) second strongest party in former Eastern Germany. #btw17 #Wahl17 pic.twitter.com/wXwzFlZ2Zp
— Europe Elects (@EuropeElects) September 24, 2017

Update: FX markets just opened and as expected there is some Euro-selling pressure in the early going…
Update: here is the latest breakdown according to ARD:
Merkel’s CDU/CSU projected to win 32.9% of votes SPD projected to win 20.8% AfD projected to win 13.1% FDP projected to win 10.5% Greens projected to win 8.9% Left projected to win 8.9% The following Bloomberg projection of the Bundestag’s projected seat breakdown shows just how strong the AfD surge has been in context, and how splintered Germany’s establishment is as a result.

This post was published at Zero Hedge on Sep 24, 2017.