Iron Vitals - Monday 9th February 2026
Early Europe Open Confirms Pressure Without Panic
What This Means
The forced-selling phase is behind us
The re-risking phase is not confirmed
Stress is cooling unevenly, not clearing
This is relief without conviction.
The system is still fragile because:
Rates haven’t eased
Credit hasn’t led
Oil isn’t confirming
Breadth is absent
The full Panel can be viewed here