The Senior Strategist: Relief rally on bank rescue package

Spanish and Italian government bonds rallied in early Monday trading, as markets were cheered by news that European leaders are ready to extend up to €100 billion of aid to Spain's beleaguered banking system.

Bond markets, which have become increasingly concerned about Spain's fragile banks in recent weeks, welcomed the move, and we might also see a relief rally this week.

But according to The Senior Strategist Ib Fredslund Madsen there is still trouble ahead concerning the european debt crisis.

Spain's banking problems and the run up to The Greek election next Sunday are the dominating themes this week.