[effexx]

Eurobond is not
at agenda for now

Merkel and Sarkozy yesterday agreed on stronger financial and fiscal bilateral co-ordination, but stopped short of
introducing the Eurobonds many observers had hoped for. The markets reacted negatively. Dow and Nasdaq fell
on continued debt crisis fears in Europe. Shanghai was up, but other Asian markets ended flat. Europe is set to open
down. US futures are slightly up.

Dollar is gaining ground against EURO trading at 1.4385. Gold is close to all time high on 1785 while
oil prices are steady on Brent USD 109 levels. Swiss franc is down fourth day in row following Central
Bank intervention and rumours that Swiss authorities want to see the Franc pegged to EURO.