Not unexpectedly and merely affirming what markets are struggling with already for the past couple of weeks, Fitch cut Spain’s long term credit rating by three notches yesterday evening leaving it precariously close to junk status with sharply rising cost to rescue the banking sector and a prolonged recession being the main reasons cited for the downgrade.
Mid morning the new economic forecasts being released by the German Bundesbank should certainly draw special attention with investors, it will be interesting to see if Germany’s recovery is expected to continue or if another slowdown is in the offing.
Markus Huber - Head of German HNW Trading - ETX Capital
www.etxcapital.com
Mid morning the new economic forecasts being released by the German Bundesbank should certainly draw special attention with investors, it will be interesting to see if Germany’s recovery is expected to continue or if another slowdown is in the offing.
Markus Huber - Head of German HNW Trading - ETX Capital
www.etxcapital.com
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