Spreadex Market Update
Shares tread with caution
Furthermore, worse than expected monthly retail sales from the US also added to the concern that the global economic recovery has probably stalled.
Despite this, investors may get a glimpse as to the next plan of action from Eurozone officials today as news reports have been released showing that EU Economic and Monetary Affairs Commissioner Olli Rehn is due to make an announcement regarding Spain later today.
Although details regarding the announcement have not been provided, investors are likely expecting Rehn to announce that Spain is officially requesting financial aid which would make Spain eligible for the ECB’s bond buy back scheme.
This would consequently help lower their borrowing costs and potentially help put the debt ridden nation back on the path to economic recovery.
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