Strictly speaking, the battle on the Valuva border had no victor. However, the facts that the Empire Army had failed to win and Valois had not suffered another defeat sent shockwaves far and wide.
Rorschach opened a newspaper from Bayern. The top story wasn't a war report, but the turbulence in the Empire's financial market.
War bonds had initially absorbed a large amount of liquid capital. These bonds then flowed back into the market, acting as collateral to increase liquidity. As long as the Empire Army held the advantage on the battlefield, this system fueled market prosperity.
When the Empire Army suffered a setback on the battlefield, this prosperity faltered in tandem. The newspaper reported it as a "technical correction," urging the public not to panic.
As for the state of the Empire Army on the front, it only occupied a small column in the paper.
