Good morning. Just as a reminder what the eurocrisis looked like up till this point + ECB???s take on its???

(source: http://www.businessinsider.com/ecb-slides-2012-9)

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The European and China PMI reports of yesterday. Not too promising??? US sort of ok.

?????????????????? http://www.businessinsider.com/eurozone-flash-pmi-2012-9

?????????????????? http://www.ft.com/intl/cms/s/0/6c809b26-0301-11e2-a484-00144feabdc0.html ???????????????????????????????????????????????????????? (FT article)

?????????????????? http://www.reuters.com/article/2012/09/20/us-global-economy-idUSBRE88J0UK20120920

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Speculation is on the rise on what level of unemployment is acceptable for the Fed. 6%? 5%?

?????????????????? http://www.reuters.com/article/2012/09/20/us-pimco-fed-gross-idUSBRE88J1E320120920 ?????????????????????? (Bill Gross: 5%)

?????????????????? http://online.wsj.com/article/SB10000872396390443890304578008713419920352.html ?????????????????????????????? (Fed official: 5.5%)

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New US debt figures released.

?????????????????? http://www.calculatedriskblog.com/2012/09/feds-q2-flow-of-funds-household.html

?????????????????? http://www.reuters.com/article/2012/09/20/us-usa-economy-households-idUSBRE88J0X520120920

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Okay, I know we have had a lot of target2 pictures in the past, but this one is insightful: Target2 as a percentage of GDP??? The article is also worth the read

?????????????????? http://www.creditwritedowns.com/2012/09/how-germany-can-avoid-target2-losses-if-the-euro-zone-breaks-up.html

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???and as a reminder: this is what it looks like with the absolute numbers

?????????????????? http://www.businessinsider.com/yardeni-euro-mess-2012-9

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A lot of (technical charts on the oil outlook for 2013 by socgen

?????????????????? http://www.businessinsider.com/socgens-huge-presentation-on-why-theyre-bearish-on-oil-for-2013-2012-9

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And on the subject of commodities, this huge matrix is pretty cool!

?????????????????? http://www.zerohedge.com/news/commodity-matrix-what-resource-tomorrow-and-who-will-benefit-it

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The relationship between FedEx shipments and GDP???

?????????????????? http://ftalphaville.ft.com/blog/2012/09/19/1169331/depressing-indicator-du-jour-fedex-shipments/

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GOLDEN CROSS ALERT!!! The red line crossing the green line is supposed to be bullish??? Painful to see that the Death Cross was a wrong sell-signal though???

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/9/20/a-golden-cross-for-gold.html

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This title is very promising: ???The Tyranny of Algorithms???

http://online.wsj.com/article/SB10000872396390443686004577633491013088640.html

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