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Economist Peter Schiff warns that former President Trump's 'America first' policies have led to declining investment returns for U.S. assets, as foreign inflows that previously fueled the dominance of American stocks and bonds may slow or reverse. Schiff predicts a severe recession and fiscal crisis if foreign investors divest from Treasuries, forcing the Fed to prop up markets and government debt.

Related tickers: DAX, GOVT, IMKTF.

German markets rallied after the conservative CDU/CSU alliance led by Friedrich Merz secured victory in the federal election, as investors expect a more business-friendly government. However, potential challenges remain, such as coalition negotiations and the presence of far-right and left-wing parties.

Related tickers: EWG, DAX.