Quick Overview

• The 111% MoM rise in the Swiss monetary base is by far the biggest since 1973.

• The IMF said that the global economy had entered a “new and dangerous phase”

• The Fed said there were "significant downside risks" to the economy.

• Robert Zoellick, the World Bank president, warned "the world is in a danger zone"

• The U.S. Fed announced that it intends to shift $400 billion in its shorter-term debt portfolio holdings to longer-term bonds hoping to stimulate more growth.

• The whole euro currency project is in danger due to member states' runaway spending and subsequent sovereign debt crises, a European Central Bank study said.

• Chinas PMI fell to a two-month low of 49.4 in September from 49.9 in August.

• The MBA said the Market Composite Index of U.S. mortgage applications rose 0.6% in the week ending Sept. 16th

• The IMF expects Indonesia's economy to grow by 6.4% this year.

• S&P lowered ratings on several Italian banks.

• Germany’s PMI fell to 50.3 in September from 51.1 in August.

• MoM French PMI fell to 47.3 from 49.1.

• Foster's rose after getting a sweetened A$5.10-a-share bid from SABMiller (SBMRY)

• HGSI rose on news that the company's new lupus drug Benlysta was selling better than expected.

• Moody cut BoA's (BAC) rating and argued the US government is now less likely to support the bank if needed.

• The latest tar balls that turned up on the US Gulf coast are again from BP’s oil spill, signaling that the area is far from cleaned up

• CERN said that measurements over three years showed  neutrinos moving 60 nanoseconds quicker than light over a distance of 730 km