Spreadex Market Update
Global markets retreat
Headline shares across global markets were shed as investors realised, finally, that Draghi would not yield to pressure from the financial markets and announce new specific steps to tackle the Eurozone crisis.
However, Draghi did announce the possibility of utilising ‘’non-standard measures’’, where appropriate. Despite this, investors refused to use this as a catalyst for optimism as we have heard ambiguous statements from Draghi so frequently that the markets are now refusing to believe that there is any more firepower left in Draghi’s ability to inject some optimism into the markets.
Thus, today has shown that rallies caused by hope for further stimulus announcement often lose steam, very quickly.
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