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Investment Event

German grand coalition?
25 February 2025
    Articles
    Download the full reportPDF, 953.23KB

    Key takeaways

    • The CDU/CSU won the German election. A grand coalition with the SPD appears the most likely outcome
    • The grand coalition would require support of other parties to reform the German debt brake
    • German and eurozone equities have increased relatively quicky recently, so some near-term caution may be warranted. Nonetheless, with eurozone equities trading at a larger than normal discount to the US, any positive European growth or policy surprises could further extend the recent outperformance

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