CDU/CSU

On the macro front, UK economic growth surprised to the upside in July, while France is expected to record only 0.4% growth this year.

Meanwhile, German political uncertainty remained in focus following the AFD's election win, with reports that some CDU-CSU lawmakers could reject the federal budget.

The European Commission is also exploring new legal options to use Russian assets to support Ukraine.

Thank you for joining us for the U.S. Market Preview for Friday, September 11, 2026.

They won 44% of the vote.

Uh, not a great look for German centrism, for the CDU/CSU, for Chancellor Friedrich Merz, uh, all these other things.

Um, [lip smacks] I, I will say I, I think this is an important issue, cousin, but I also think the level of reaction...

W- I also get the level of reaction.

That was most in evidence.

If you just look at the German, for example, political polls, you've got the AFD polling at 28% versus the ruling CDU party, CDU-CSU coalition, whatever.

at around 21%.

And the Social Democrats are just down in the absolute dumps.

This is according to exit polls.

The historic result in Saxony-Anhalt is a blow to Chancellor Friedrich Merz's Conservatives.

It would make AFD the first far-right party to win control of a state in Germany since World War II.

Our correspondent in Berlin is Thomas Sparrow, and he joins us now.

The thing is, here in Germany, there's a lot of discontent when you look at the federal government.

This is one of the most unpopular chancellors ever, Friedrich Merz.

So basically, some of the people that voted in Saxony-Anhalt, which is a small state, it's not a big state, but it's still an important state in Germany, one of Germany's 16 states, They voted against the government, against the party that represents the government, so against the Conservatives, which actually had a very bad result in Saxony and how they lost a lot of support.

So that's one point that explains why people voted for the AFD as a matter of protest.

You can have them." Now, uh, you know, uh, with Berlin and the Mecklenburg-Vorpommern voting, uh, is gonna take place two weeks after, uh, Saturday.

Um, the national AFD leads, uh, at about 28% versus 21% for the CDU/CSU, the current, uh, leadership of Germany Now Merz's position has been a historically weak one.

Uh, one survey found that 85% of voters are dissat- satisfied with the current state of, of domestic policy in Germany.

Um, [lips smack] uh, the AFD, they suggested that is Russian friendly, uh, that's what a lot of people comment.

And in Germany, the alternative for Deutschland, AfD, has done a good job of saying, we're not the threat, you guys are the threat because you've been inactive.

In other words, the old Socialist Party and the CDU-CSU coalition, the conservatives, that they have basically relied on the status quo ante to provide themselves with guarantees with stability and that this path will continue.

But we know that the status quo never survives.

There's a small golden image in the back of our minds.