There Was One Really Bullish Piece Of News From Europe This Morning

All in all, a very ugly day in Europe. Yields blowing out. Stocks down. Etc.

One bullish piece of news.

In Germany, the ZEW economic sentiment survey came in disastrous, which sounds bad except that, as this chart from Reuter’s Scotty Barber nicely shows, these extreme levels of negativity are associated with market bottoms.

chart

Photo: Reuters

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