Spreadex Market Update
Spanish banks downgraded
Moody's has downgraded 28 Spanish banks soverign risk, bringing concerns about bank liquidity to the table.
Cyprus has also requested a bailout following Spain yesterday.
Although markets are set to open higher this morning, after 3 days of negative trading, European sentiment is stopping any major rally from happening.
In Asia, China is considering further rate cuts in August, in a bid to further stimulate their economy.
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