Photo: Wikimedia Commons
It’s been a while since there’s been this much anticipation about the start of Asian market trading on Sunday evening.Over the past several years we’ve had several of this weekend, where for one reason or another, something major (or thought to be major) happened over the weekend, and everyone wondered how markets react.
In this case, it’s the Spanish bailout announcement, which will see Spain receive about $125 billion in support from the rest of Europe to recapitalize its banks.
On the one hand, it’s big deal, because it’s a bailout sans-austerity conditions, which seems to be a fist in Europe.
But the questions remain: Do people feel as though Spain still is a country in good-standing with market access, and do people think $125 billion is enough?
The market’s reaction tonight will help answer those.