The German index DAX reached new historical heights during today's session. In the meantime, we saw a slight pullback in bond yields, although of course taking into account the scale of recent increases, today's pullback is very small (moreover, the correction of German bond yields is wider than in the US). The main reason behind today's rally is, of course, the Volkswagen company, about which we write more in our post, Stock of the week.
DAX (DE30) has climbed to a new ATH and is approaching the 14,800 pts level. Certainly, investors will be aiming for the 15,000 pts level, which is marked with the 161.8 retracement of the recent major downside move. Source: xStation5
