Although it looks like todays earnings have slightly boosted EU equities throughout the morning, we should consider that it has actually been a quieter day overall. Volumes remain low across the board with not a single index trading above their AVAT. Feels like investors are taking a bit of a step back, mainly trading around numbers while leaving the macro tensions aside (for now). One thing to note is the Stoxx Growth/Value (STGP/STVP) – growth made a new all-time relative high earlier today. Also keep an eye on the VIX, which has been ticking lower since yesterday – key support at 23.54.
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