I got into a conversation where we started to talk about the situation of the EU. Since 2008 a lot has happened and the participants (of this conversation) shared the same conclusion: the EU might not be out of the woods yet but if you are halfway through the forest then you are practically going out of it. We are getting improving macro data (better PMIs, recovering real estate sector and better Spanish labor data) and there is a significant discount in pricing which indicates a slower growth so a higher pace (compared to the rest of the developed countries and the consensus) would cause a positive shock.

real estate

20130725

Yesterday`s market movements looked like a pioneer of a notable dip but the main indices couldn`t generate more than two negative days in a row which proves some sort of strength for now.

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