From today's Deutsche Bank Early Morning Reid

"Before we preview a blockbuster week its interesting to take stock and note key market levels from the first EMR on February 28th 2007 and show in brackets where they are now. The S&P 500 was at 1399 (now 1320), UST 10yr 4.51% (3.39%), Fed Funds 5.25% (now 0.25%), Crossover +201 (+395), Main +22 (+99), Greece 10yr 24bp over Bunds (+873bp over Bunds), Spain 10yr 5bp over Bunds (+225bp over Bunds), Gold $663/oz ($1413/oz), Oil $61/bbl ($99/bbl), the Bovespa Index 43,143 (66,903), and the Shanghai Comp 2,772 (2,896). So DM risk assets are still generally weaker than where they were four years ago and the only way we've managed to keep them as high as they are is through unparalleled levels of fiscal and monetary intervention which has contributed to the 113% and 62% rise in Gold and Oil over the period. Other commodities are also a lot stronger thus contributing to the problems facing leaders in EM and central bankers in DM."