The shrinking U.S. yield premium

Data: U.S. Department of the Treasury,; Chart: Andrew Witherspoon/Axios
Expert Voices

German political shifts leave Merkel's legacy hanging in balance

Angela Merkel speaking and gesturing
German Chancellor Angela Merkel. Photo: Adam Berry/Getty Images

The poor fortunes of German Chancellor Angela Merkel's party in last weekend's EU parliamentary elections present the latest challenge to her hard-earned legacy.

Where it stands: Although Merkel’s coalition partners, the Social Democrats (SPD), are in free fall, her popularity has helped the political center hold in Germany much better than in other EU countries. But now the contagion of populist forces and smaller parties that has overrun establishment parties across Europe is also threatening Merkel's Christian Democrats (CDU).