What’s in Shrinking German Status Quo for Markets?: John Authers

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Today’s Points

• Germany’s next chancellor is moving fast and trying to raise €200 billion in emergency defense spending.
• The DAX has beaten the S&P 500 by more than 12% since the US election.
• This isn’t as weird as it looks, because European companies, especially small caps, have been growing earnings nicely.
• CAPE tells you that Germany is way too cheap.
• AND: Rest in Peace, Roberta Flack.

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