German Perspective - 24.05.11
What happened this week: We believe it’s fair to say that the market and most players are in a kind of confusion. There are presently so many factors in situations, but most people fail to have a clear picture what is really going on. After the strong sales numbers which have been reported from the US two weeks ago most optimists were convinced that the market had found the bottom and the period of correction would be over. However, at the end there was no follow-up of business to confirm that the market had ended its descent and would be on safe ground again. It might have found some ground, but one does not have the impression that this ground is really solid and safe.