The problem with treading water is that after a while it gets damn tiring. Europe fought valiantly to keep its head above water for the most part of the morning session however ultimately succumbed to the macro riptide, and was pulled under. Another deluge of earnings read ultimately better this morning, spurring some initial reversion after yesterday’s sell-off, however with COVID infection rates across the region only going one way that reversion was short-lived.
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