There is some talk in the market that the ECB could move today but we think this is unlikely,

The focus will be on payrolls, and the market is looking for a significant fall as we are still seeing the effects from Hurricane Katrina. It is worth holding long bond positions.

I think we are going to move hastily to get this done. I had a long talk with Jim Armstrong today on the addition of the senior center to the community center,

Some late talk was circulating that they would move their bias. We also saw the market rallying strongly into the decision and we sold off on the disappointment. I believe we're more on the way to a soft landing.

You can only remember the disappointments of last year but we're just trying to move on and not think too much about it. We've got a new squad and a whole bunch of players who are different from the ones that were here last year.

It is unlikely that the results will be known today [Sunday].