This via HSBC overnight on German political machinations:
- Germany's President Steinmeier will begin to meet political parties today to see if a government can be formed.
- Chancellor Merkel said yesterday that "a minority government isn't part of my plans"
- The market continues to weigh the possible outcomes including a minority government, a grand coalition or a revival of the "Jamaica" coalition talks
- If a new election were to be called, the process would be rather drawn out and might not point to a fresh vote until the end of Q1 2018 perhaps, thereby prolonging the political uncertainty.
- Nonetheless, the EUR has generally proven rather indifferent to such issues elsewhere in the Eurozone and this may prove true also of Germany.
(bolding mine)