Situation and expectations fall slightly once again.

What is worrying about the current loss of momentum is the policy's unwillingness to react, which is obviously unaware of the possible implications. Investors do not expect a quick reaction from the central banks either.

The US President, too, is becoming increasingly entangled in a secondary war theatre, and the US shutdown is strengthening the downward momentum in the USA as well. The US overall index falls for the third time to only 6.6 points. Eastern Europe and, above all, Latin America are viewed somewhat more positively.