workbook opens but is invisible

[ctanna16]

Recently when I start excel by double clicking a workbook, the resulting view is that of an excel frame with a transparent window. The workbook is open. I can navigate within it, but only see what appears in the edit bar. When I choose the goto (F5) the window does popup and lets me jump to my choice. The window's appearance does not change. Where the worksheet should be displayed is the desktop view

If I open excel first, then a document, everything works normally. ??

Thanks,
Anna