So for the coming week look out for:
Delayed reaction to Draghi disappointment
Despite his bold words over the past week, there was little real action from Draghi, leaving markets waiting for the next ECB meeting in December, unless events force quicker action.
Italian and Spanish bond yields
Both remain unsustainably high.
Serious doubt that either might not avoid default may be enough to ignite a new crisis and send markets plunging, when no rescue funds are available.
Delayed reaction to latest Greece events
The ECB tossed its own rulebook aside in order to prevent a Greek default in the coming weeks.
It is unknown whether it can continue to accept worthless collateral, and if markets stay calm about contagion threat from a Greek default, until the Troika reaches a decision in September on what to do with Greece.
Coming week 32 market movers!
Posted on by Rick Silva