Bad news is even better news in Europe. “Core” Germany saw its powerhouse economy suffer the biggest drop in Factory Orders since June (-1.3% YoY) missing expectations for the 2nd month in a row – the first consecutive drop since may 2013 (despite German business confidence rising for the 5th month in a row) as apparently devaluing the EU’s currency is not encouraging business. The result… DAX futures surging, bond yields tumbling and Spanish bond yields to 6 months are now negative…
Not pretty…