The DAX did not really have the kind of reaction that you would expect given that the QE is over 1 Trillion in total and that will just be the start. It seems that there was some profit taking to end the cash session on Friday. It may just be jitters ahead of the Greek election this weekend. It is difficult to say how this will unfold. I am quite sure the European markets will be higher than they are by the end of the year barring something unforeseen.
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