No domestic data impacting interest rates is being published today, so the mortgage bond market is completely flat. In Germany, the largest economy in Europe, business climate continues in recession. A report out today shows that the slower business cycle is adversely impacting morale of German citizens. Heads of companies are also assessing their situation as “poor”. Demand for exported German goods has weakened and expectations are cloudy.
Unlike their economy, German cars are not slow. Germany produces three of my favorite brands. However, having bought an American vehicle a month ago after my last string of three German models, I am partially to blame for the recent slowdown in The People’s Land. Keep your chin up Deutschland, you’re still my favorite manufacture of speed.