- Amount of capital needed continues to grow
- Pressure mounts of Germany/Spain bond spreads
- Uncertainty with other European financials grows
- Euro continues to sell-off now sub 1.25 to the USD.
- The German IFO Business Climate Survey improved unexpectedly today
- Germany has been able to shrug off the sovereign debt crisis better than any of the other large economies in the EU-17
- Germany’s unemployment rate has trended lower throughout 2011 to a new low of 5.5% in October. This is clearly helping German sentiment.
- In a world short on confidence, Germany is doing ok.
