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Tuesday, February 17, 2009

German Investor Confidence Bounces Back In February

I don't know whether to laugh or cry at this point.

German investor confidence jumped the most in more than 15 years in February after the government stepped up efforts to bolster the economy and the European Central Bank signaled it will cut interest rates to a record low. The ZEW Center for European Economic Research in Mannheim said its index of investor and analyst expectations rose to minus 5.8 from minus 31 in January. That’s the biggest gain since July 1993 and the highest level since July 2007.

Obviously these people are still hopelessly overoptimistic, and I can only advise people to stand well clear when the very weighty second shoe inevitably drops here.

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