While the United Kingdom recuperates from a recent long bank holiday, the entire world is still feeling the side effects of the hangover. Just last week Spain’s planned rescue attempt of Bankia was staggered on the point of a worst case scenario as it was torn apart into pieces by the European Central Bank. The apprehensive thought for Eurozone’s economists is that Spain’s insufficient funding ability to bail itself from several of its insolvent and poorly performing banks will result in EU and IMF eventually stepping forward and offer bailout assistance similar to what they gave to Portugal, Ireland and Greece.

In the meantime, Greece has disappeared into the spotlights and out of the radar of scrutiny although the odd opinion poll resurfaces from time to time with each one offering a different opinion to its predecessor. Towards the end of the week a bombardment of global economic data and figures bring more disturbing news as the economies of the U.S., China, Britain and Germany’s outputs in manufacture all garnered rather poor results below expectations. Apparently the crisis which is supposedly confined in the Eurozone has made a ripple effect that is felt around the global economy.

Global risk loathing has seen markets from around the world decline as reflected in much of the global economy’s quarterly reports and this awkwardness is seen in the IG clients’ views on the S&P 500 index. This wider index is considered a more stable view of the American economy than its more sensational counterpart the Dow. IG clients have remained stubbornly short on this market, even though we have seen some closing out of short positions following a fine turn for the bears.

Oil trade is still very much bullish as seen among the traders of black gold. The apparent speculations that the global demand for oil will not decline anytime soon even with the struggling economic growth of the world’s economy. In the long run, everyone will still continue to be dependent on using this indispensable fuel to run our cars and the rest of the civilized world.