Market Optimism Prevails Despite Political Turmoil

Markets are rebounding as investor fears subside, with the CBOE Volatility Index around levels last seen at the start of March. However, it may be too early to celebrate as the economy's performance is still uncertain. The EU's Single Resolution Board chair, Dominique Laboureix, revealed that in the event of a bank rescue, the EU will start by "absorbing equity stack, and then the AT1 and then the Tier 2 and then the rest." Meanwhile, former President Donald Trump has been indicted by a New York grand jury in connection with a $130,000 hush money payment to porn star Stormy Daniels before the 2016 election.