Synopsis
This issue opens with the talking heads, which this time comment on how Captain America changes to reflect the country's mood. But this time he's reflecting his own mood, sadness and anger after Sin/Skadi killed Bucky in Fear Itself #3.
Steve Rogers is in the Secret Avengers' quincarrier brooding over Bucky's death at the hands of Sin, when Sharon Carter tells him they've received intel that she is in a Swedish castle. He leads a team of Sharon, Maria Hill and Victoria Hand to invade the place. (He didn't want to alert Sin by taking any of the main Avengers from the public battles.)
Hill can't understand why New Avengers liaison Hand is on the team. Steve says she's got SHIELD training. Hill points out that's only as an accountant.
Steve's still in his Super-Soldier outfit, but with the Captain America shield, retrieved from Bucky's body.
The 4 split up into pairs to effect separate entrances. Steve and Sharon end up facing Master Man, and Maria and Victoria meet the Exiles. All unrepentant Nazis.
Master Man blasts Steve and Sharon out of the castle with a big gun. Steve takes the brunt of the blast with his shield, and then uses it to protect them from the fall. Steve sends Sharon to help Hand and Hill, and then faces Master Man alone.
Meanwhile Maria and Victoria are executing a fighting retreat from the Exiles, when they run into one of them, Iron Hand Hauptmann. But Sharon pops up and shoots him. The 3 SHIELD agents then hold off the other 5 Exiles.
Both fights are interrupted when the castle is hit by an earthquake. The goodies get separated from the baddies. And Steve learns that it wasn't a natural earthquake when he meets Daisy Johnson, codename Quake. She's a SHIELD agent, but not part of the organisation that Steve heads. She was one of Nick Fury's Secret Warriors.
Our hero(in)es realise that this was all a trap for Steve, and Sin was never here.
In a talking head epilogue Steve, now in full Cap gear, ponders making Quake an Avenger.