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Saturday, September 27

27th Sep - W/E: Charts

Finland's official worries about unsustainable fiscal spending sound weird when looking at the bond yields. There is another agenda: pushing through internal devaluation, adhering to the EU's growth- and stability pact etc.

Plenty of downside left in the German stock index - at least to the lower end of the trading range.

US positive surprise index has turned down from high levels (expect negative surprises in the near future), while Euro zone negative surprises are largely behind us now.

During the past two expansions, only the better-off minority has seen an increase in their income - and the trend remains clear.

European purchasing manager indices did not show any growth ahead

The euro's weakness after the ECB's threats and plans of further monetary policy easing have largely been against the USD. Against AUD, JPY etc, the net change is zero.

Greece's stock index looks technically bad, but from a bit lower levels could provide a nice quick swing trade higher.