Germany’s economy is in freefall, yet its biggest insurer still gambles on MicroStrategy’s convertible note.

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OUCH! German private sector slides deeper into contraction on services, dealing another blow to an economy grappling with a govt collapse alongside flat-lining growth. The composite PMI dipped to a 9mth low of 47.3 in Nov from 48.6 in Oct – holding below the 50 threshold separating expansion from contraction. Services PMI unexpectedly dropped below 50 for 1st time since Feb. Manufacturing PMI slightly improved to 43.2 from 43 in Oct. (via BBG)

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