Euro Weakness No Longer A Headline Problem

As the cycle of European crises becomes shorter and shorter the problem has ceased to be one of headline risk according to a report from Deutsche Bank AG (NYSE:DB). The report, entitled "The euro has a life beyond the Headlines", looks at the reaction to the Spanish bailout as evidence of the transformation.

On Monday as the market had a chance to react to Spain's bailout. the outcome of that reaction was surprising. After an initial, and expected, significant rise in Spanish equities the market fell and finished down for the day. The DB report takes this as evidence that we're...