<!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN"> <HTML> <HEAD> <META content=text/html;charset=iso-8859-1 http-equiv=Content-Type> <META content='"MSHTML 4.71.1712.3"' name=GENERATOR> </HEAD> <BODY bgColor=#ffffff> <DIV><FONT color=#000000>Europe signals that it is willing to lower interest rates. China signals that she may go down soon. Brazillian elections give mixed results. Corporate credit crunch is easing.</FONT></DIV> <DIV><FONT color=#000000></FONT> </DIV> <DIV><FONT color=#000000>Peter</FONT></DIV></BODY></HTML>