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Support For Germany's AfD 'Firewall' Plummets As Voters Call To Bring Party In From The Cold

Via Remix News,

Germany's long-running "firewall" that sees the country's legacy parties exclude cooperation with the right-wing Alternative for Germany (AfD) is moving further out of step with a large section of the electorate, with new polling showing voters now evenly divided over the governing CDU's refusal to work with the nationalist party.

Alice Weidel (AfD), federal chairwoman and parliamentary group leader, walks past Federal Chancellor Friedrich Merz (CDU) in the plenary session of the German Bundestag. (Photo by Lilli Förter/picture alliance via Getty Images)

According to the latest Deutschlandtrend survey by Infratest Dimap for ARD and Welt, 47 percent of Germans now say the CDU's exclusion of cooperation with the AfD is not right, while the same proportion say it is right. That marks a significant shift since September 2024, with opposition to the stance rising by 12 points and support falling by 13 points.

The figures come as the AfD remains Germany's strongest party in the national polling. Infratest Dimap puts the AfD unchanged on 27 percent, ahead of the CDU/CSU on 23 percent, with the Greens on 14 percent, the SPD on 13 percent, and the Left Party on 10 percent. The FDP and BSW would both remain below the five-percent threshold for entering parliament.

The CDU's position still has clearer backing among its own voters, with 62 percent of CDU/CSU supporters saying the exclusion of cooperation with the AfD is right. However, the wider national picture suggests the policy is no longer backed by a clear public majority.

The east-west divide is particularly stark on the AfD question. In western Germany, a narrow majority still supports excluding cooperation with the AfD, 50 percent in favor to 45 percent against. In the east, where the AfD has built some of its strongest support, a clear majority opposes the CDU's stance, 58 percent against to 38 percent in favor.

The poll also points to a deeper crisis of confidence in Germany's established parties. Only half of respondents said they support their preferred party out of conviction, while 46 percent said their choice was driven by disappointment with the alternatives. When the same question was asked in 2018, 61 percent said conviction was the main reason for their party preference.

That disappointment is especially pronounced among AfD voters. The poll found that 57 percent of AfD supporters are motivated primarily by frustration with other parties, although the party also scores strongly on its political program among its own base.

The findings come after a series of strong results and polling boosts for the AfD, particularly in eastern Germany. Last month, AfD politician René Stadtkewitz won a snap mayoral election in Zehdenick, Brandenburg, with 58.4 percent of the vote, becoming the party's first directly elected full-time mayor in the state. Separate regional polling has also shown the party on the cusp of absolute majorities in Saxony and Saxony-Anhalt.

AfD co-leader Alice Weidel has presented the trend as part of a broader political realignment, writing after earlier polling gains: "The political shift is inevitable - we will put the interests of our country and our citizens back at the forefront!"

The pressure on the CDU is being intensified by deep dissatisfaction with Chancellor Friedrich Merz and the federal government. According to the Deutschlandtrend figures cited by Welt, only 16 percent of Germans are satisfied with Merz's performance, while 82 percent are dissatisfied. Overall, just 12 percent are satisfied or very satisfied with the federal government, compared with 87 percent who are less satisfied or not satisfied at all.

Economic pessimism is also weighing heavily on the political landscape. The economy is now the top issue for voters, ahead of refugees and migration. Only 13 percent describe Germany's economic situation as good, while 85 percent rate it as less good or bad. Just six percent expect to be better off in a year's time, while 38 percent expect things to worsen.

Read more here...

Tyler Durden Fri, 06/05/2026 - 02:00

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PHOENIX –– There are no-doubters. And then there are the kind of thunderous swings Ketel Marte uncorked in the bottom of the ninth inning on Thursday night. After leading by two runs entering the eighth inning, the Dodgers got walked off by the Arizona Diamondbacks 3-2 on Thursday night. The fatal blow: A first-pitch fastball...

S&P Denies SpaceX Fast Index Entry, Delaying $14BN In Passive Inflows By At Least A Year

Earlier today, in our forensic analysis of the SpaceX IPO, we said that according to BNP estimates, the company's inclusion into the S&P500 some 6 months after the offering would unlock $13.4 billion worth of inflows.

It turns out that that is not going to happen 6 months after the IPO. In fact, the earliest it may happen is 12 months after Friday's break for trading... and realistically well after that. 

That's because after the close today, S&P Dow Jones Indices said it would keep its existing eligibility requirements for main benchmarks like the S&P 500 Index, rejecting proposals that would have made it faster for mega-cap companies such as SpaceX to gain rapid entry into the benchmark after going public.

The index provider in a press release Thursday said it will not shorten the 12-month seasoning period for newly public companies it currently has or waive existing profitability and public-float requirements based on a company’s size, diverging from a broader industry shift embraced by rivals Nasdaq Inc. and FTSE Russell.

This is what S&P Dow Jones said in the press release:

"S&P DJI determined that exceptions to the financial viability, seasoning, and IWF requirements should not be granted solely based on market capitalization. The decision not to adopt the proposed exceptions preserves core index principles by maintaining consistent application of these key requirements. Although there may be trade-offs between strict adherence to these eligibility requirements and broad representativeness, the current methodology provides substantial market coverage and sector balance. As a result, the indices can continue to meet their stated objectives while preserving their role as representative and investable benchmarks for the U.S. equity market.

No changes will be made to the eligibility criteria including financial viability screens, seasoning period, or minimum IWF, for the S&P 500, S&P MidCap 400, or S&P SmallCap 600 as a result of the S&P Dow Jones Indices consultation on the treatment of MegaCap companies. Accordingly, there will be no changes to existing methodology for this index family."

A more detailed breakdown of today's announcement: 

The requirements that will now remain in place are:

• No changes to S&P 500 eligibility rules for mega-cap companies.
• Mega-cap companies will still need to wait 12 months after their IPO before being considered for S&P 500 inclusion.
• S&P will not waive profitability requirements for mega-cap companies. The company must have positive GAAP net income in the most recent quarter, and the sum of the most recent four consecutive quarters.
• S&P will not waive minimum public float requirements for mega-cap companies. At least 10% of a company's shares must be publicly tradable ("free float").

The S&P rejected proposals that would have:

• Reduced the IPO seasoning period from 12 months to 6 months
• Waived profitability requirements
• Waived minimum public float requirements

This means that the earliest SpaceX (as well as Anthropic and OpenAI after it) could be eligible to be added to the S&P 500 would now be June 2027.

The decision arrived as Wall Street has been grappling with a new reality: some companies are reaching unprecedented sizes before they ever enter public markets. The consultation, launched earlier this year, effectively asked whether index rules written for a different era should bend to accommodate companies that now arrive at a scale once reserved for mature blue chips in what has become known as the “fast entry” in industry parlance.

However, the push for quicker inclusion raised concerns among some investors who said rules around profitability, float and trading history exist precisely to prevent benchmarks from chasing hype. Furthermore, adding IPOs too quickly, they say, could expose passive funds to greater volatility and force them to buy shares before reliable market pricing is fully established.

Meanwhile, supporters say indexes should include massive companies as quickly as possible to reflect the market investors actually own, adding that these trillion-dollar firms can be economically significant long before they satisfy traditional index requirements.

“I am genuinely surprised,” said James Seyffart, ETF analyst at Bloomberg Intelligence. “But S&P is the market leader and they can buck the trend.”

Shocker for me to be honest. I genuinely assumed they would make the changes because everyone else was. But S&P Dow Jones is not changing their rules to allow for Fast Adds of Megacap IPOs

(We all know what happens when you assume) pic.twitter.com/tzrURWksPJ

— James Seyffart (@JSeyff) June 4, 2026

Unlike the S&P, Nasdaq changed its rules recently so SpaceX can join the Nasdaq 100 Index, a cohort of the largest non-financial companies listed on its exchange, in just 15 trading days, down from a three-month minimum. FTSE Russell adopted a similar approach, shortening the waiting time to five trading days. Indicatively, the Nasdaq addition would generate roughly half the passive inflows into SpaceX as an S&P includion would. 

Tyler Durden Fri, 06/05/2026 - 00:27

The brief, late-night message from the Yankees regarding star Aaron Judge’s condition wasn’t the worst possible news. But it very close to the worst. 

Jalen Brunson had no jokes, no sarcastic remarks, no not-so-subtle digs about his longtime teammate.