Good Morning from Germany, where the govt is hosting its first investment summit in Berlin, taking a page from France’s “Choose France” playbook. Since end-2019, real capital investment has FALLEN 6.9%, while govt consumption has RISEN 15.2%. GDP is up just 1.9% over the same period, through Q2 2026. More state consumption, less investment in future growth. Quite a backdrop for “Invest in Germany.”