Good morning. OECD pension data, always interesting. The number one is not a big surprise to me, but number two???.Iceland?? And look at France???

?????????????????? http://www.oecd.org/newsroom/pensionfundassetsatrecordhighbutinvestmentreturnsnegativein2011saysoecd.htm

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Positive or negative? There is a lot good news/bad news information today. On a negative note: Greece is baaaaack! A big shortfall of the budget???

?????????????????? http://www.marketwatch.com/story/troika-said-to-estimate-greece-budget-gap-at-26b-2012-09-23

?????????????????? http://www.forexlive.com/blog/2012/09/23/troika-sees-sharply-higher-greek-budget-gap-of-e20-bln-press/

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Positive: Der Spiegel is talking about ESM being leveraged to 2 trillion euro???

?????????????????? http://www.reuters.com/article/2012/09/23/us-eurozone-bailout-fund-idUSBRE88M0BH20120923

?????????????????? http://www.spiegel.de/wirtschaft/soziales/esm-euro-laender-wollen-rettungsschirm-auf-zwei-billionen-euro-hebeln-a-857446.html

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Negative: The next panic??? Japan.

?????????????????? http://www.theatlantic.com/magazine/archive/2012/10/the-next-panic/309081/

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Some overviews what has happened in 2012 up till now. Which sectors have done best?

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/9/21/best-performing-russell-3000-stocks-and-sectors-in-2012.html

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???and what was the best day for stocks?

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/9/21/sp-500-average-daily-change-by-weekday-2012.html

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The much more important question though, is what???s ahead? Will stocks survive the weak earnings season????

?????????????????? http://www.reuters.com/article/2012/09/22/us-usa-stocks-weekahead-idUSBRE88L01220120922

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???and this does not looks too promising for the US economy as a whole

?????????????????? http://www.bespokeinvest.com/thinkbig/2012/9/21/the-plight-of-the-transports.html

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On a more positive note: the ECRI indicator is moving away from recession territory again

?????????????????? http://www.businessinsider.com/ecri-weekly-leading-index-2012-9

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On a less positive note: the surprise index for the US may be up, but the core surprise index isn???t

?????????????????? http://www.zerohedge.com/news/gaping-maw-centrally-planned-surreality

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Which country is the least afraid of the Chinese????

?????????????????? http://www.economist.com/blogs/graphicdetail/2012/09/daily-chart-11

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I think I have shown this one before, but it is good enough for a replay

?????????????????? http://www.zerohedge.com/news/2012-09-22/icecap-asset-management-three-days-shook-world-and-law-diminishing-returns

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Those that think that US government has not done much in keeping their budget in line, should consider this chart

?????????????????? http://www.businessinsider.com/how-mitt-romney-sees-the-crisis-2012-9

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And of course a preview of what to expect for the week ahead

?????????????????? http://www.reuters.com/article/2012/09/23/us-usa-stocks-weekahead-idUSBRE88L01220120923

?????????????????? http://www.calculatedriskblog.com/2012/09/schedule-for-week-of-sept-23rd.html

?????????????????? http://blogs.ft.com/beyond-brics/2012/09/23/the-week-ahead-september-24-28/

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