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Buy It All, Buy It All Right Now: European Stocks Soar In “Never Geert” Rally

Europe is in rally mode. Plain. And. Simply. Following Geert Wilders' defeat in the Dutch elections on Wednesday, markets are more than a little relieved that voters seem to have cooled on the whole angry, xenophobic populist uprising thing which, as a reminder, looks like this in terms of "then and now" polling: (Goldman) As Bloomberg notes, "the VStoxx plunged 23% as the Euro Stoxx 50 rallied 1% after the Dutch voted to back pro-European parties." The VStoxx at 12.05 would be the lowest since July 2005 on a closing basis. At a more granular level, 15 out of 19 Stoxx 600 sectors rose early on with real estate the most active 0.8% on 122% 30-day average volume followed by utilities 0.6% on 109% average volume. 479 Stoxx 600 members gain versus 111 decline. As we've said for two months, the Dutch vote was a barometer for the European electorate's appetite for populism and Wilders' relatively poor showing suggests the chances of Marine Le Pen winning the French presidency may have receded. “Markets are being allowed to ponder the potential for less populist French and German political outcomes in the months to come, while further U.S. stimulus supports both U.S. gro
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1 comment on “Buy It All, Buy It All Right Now: European Stocks Soar In “Never Geert” Rally

  1. Lance Manly says:

    >As we’ve said for two months

    Is that the royal we? Or is Sharon now on your staff? Buy SPY!

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