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(U2) More Stable But Still Fragile


Trend Structure Remains Bullish


Cautious Risk Appetite Gains Momentum


Key Support Still Exposed


Late Equity Roundup: 2W Highs

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Germany's Der Speigel is reportingthat prosecutors have raided the offices of the German Finance and Justice ministries.

  • Spiegel reports: "The background to this is an investigation that has been running since February 2020. It is directed against persons responsible for the Financial Intelligence Unit (FIU), a special unit of customs against money laundering, who are not named. There is a suspicion of thwarting punishment in the office. The FIU is said to have not properly forwarded money laundering suspicion reports from banks "amounting to millions" to the law enforcement authorities."
  • The raid has come at an extremely sensitive time politically, given that Germany's federal election is now just weeks away and the current finance minister, Olaf Scholz, is the frontrunner to take over the German chancellery. There is no indication that the raid has any links to Scholz.
  • Nevertheless, actions such as those carried out by the Osnabrück public prosecutor's office can have unpredictable impacts on election narratives when they take place so close to the vote itself.
MNI London Bureau | +44 203-865-0981 |

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