The German market would view such a grand coalition as slightly negative because it could mean reforms will take longer to enforce.

It was a slightly negative day, partly because of waiting for when the Fed will start raising rates,

The market is beginning to price the end of the (Fed) rate hiking cycle in.

It's difficult to say if it's cyclical or defensive sectors driving the market. Whatever sector is seeing some M&A speculation or activity is the one that's going well at the moment.

The only trend you can really identify at the moment is that things seem to be M&A driven.

Fed and ECB rate hikes should not present a liquidity problem for equity markets.