Recap 10-4-11

Main Items:

· RBA left rates unchanged at 4.75% as exp

· France and Belgium will guarantee Dexia loans to protect clients and debtors. French finance minister Barion said France and Belgium will support banks as they did in 2008.

· The Troika/Greece October 13th meeting is now cancelled. The Greek finance minister said the country has no cash issues until the middle of November.

Overseas:

· South Korea HSBC Mfg PMI declined to 47.5 in Sept vs 49.7 prev

· UK Construction PMI declined to 50.1 vs 51.6 exp and 52.6 prev

· EZ PPI declined to 5.9% in Aug vs 5.8% exp and 6.1% prev

Commentary:

None.

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