European Credit market as of 09/12/2007

--it maintained Tuesday's better tone into wednesday in spite of a touch of uncertainty creeping into equity market caused by the surpise resignation of Japan prime minister and fire of Russian prime minister by Putin --though banking liquidity issues begin to abate, real economy worries begin to raise their heads. --although we have seen some stablization in money market, the level of key indicators remain still elevated, far from out of the woods at this stage --