Today's essential intelligence covering international developments and European affairs. Risk-On Records, But Breadth Thins
Wall Street’s rally rolled on: the S&P 500 posted a fourth consecutive all-time high at 5,580, yet fewer than 40 % of its members closed green—classic late-cycle divergence (WSJ). Capital Buffers: When To Pounce
Euro-area supervisors quietly blessed new counter-cyclical capital buffer (CCyB) hikes—0.