The markets are struggling with the fact that without outside help either from the ECB or the EU any improvement in sentiment is rather unlikely with worries and uncertainty about Spain’s banks and slowing growth across Europe continue to dominate the headlines.

While many consider the recent move to the downside as vastly overdone any help in the short term seems also hard to come by with politicians continue to disagree about measures to stabilise the current situation and the ECB unwilling being dictated to by falling markets and a worsening in sentiment.

The big surprise however seems to be that despite the dramatic losses seen during the past few days in stock markets across the globe and periphery yields shooting up once again close to critical levels there still seems to be a lack of urgency to deal with this situation.

Markus Huber - Head of German HNW Trading - ETX Capital
www.etxcapital.com