Data on activity in the third quarter – from various confidence surveys and indicatorbased estimates – remain overall favourable. The latest data on unemployment indicate improving labour market conditions and the global economic activity is expected to remain robust, as the likely slowdown in the United States is expected to be largely offset by the continued strong growth in emerging markets.
Developments in the domestic financial markets  You are all very familiar with developments in the domestic markets, which will allow me to be very brief. Prior to the recent dollar strength, but subsequent to the FMD cocktail function last year, price formulation in the domestic financial markets reflected a confluence of idiosyncratic and global factors.