The Euro area economy continues to grow. For the fourth time in a row, the current situation assessment has risen: to its highest level since January 2008 at 28,8 points.

• The Euro area therefore emancies itself somewhat from the global tendencies as the assessment of the other world regions is by no means clear. A noticeable drop in expectations is measurable for the US economy.

• But Eastern Europe and Latin America are also hard to reconcile into a stable growth environment.

In this context, investors are increasingly looking to the ECB. The statement by Mario Draghi, that he sees no reason for a change of the monetary policy, appears against the background of this robust economic assessment barely understandable. This position is understandable with a view to the inflation risks, which are estimated by investors to be lower than last due to the relatively stable oil prices. But the bond market investors should not cheer too early. Investors do not let loose the expectations of a more restrictive course for the monetary policy, because Mario Draghi might perhaps rethink his attitude with regard to these sentix indicators.