Spreadex Market Update
Markets lower than before elections
Nervousness is still pervasive as investors await confirmation that the two pro-bailout parties can agree upon working terms together and form a coalition government and the fact that we are still earnestly waiting for an assertive and positive central bank announcement is adding to the anxieties.
Everybody knows that a successful Greek election, albeit paramount to killing off the contagion effect in the short-term, is still a small step towards ending the crisis.
That's why the focus has already turned to the G20 summit this week and the EU summit later this month. Decisive and clear communication needs to be delivered from these meetings to ensure the markets that the EU and world leaders are working together to implement crisis-ending solutions.
Otherwise we should brace ourselves for a continuation of choppy trading for some time.
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