Enough with Dubai

The global concerns in the markets for the Dubai are now abating. A statement (in full here) has been released which clarifies that Dubai World
is trying to restructure just 26 GUSD of debt, and that "constructive" talks are starting.
This is probably the end of the story, as far as markets are concerned.

Probably, quite rightly too. The chances of unexpected bad news coming out before XMas (the Dad's army scenario) are now very slim. Was it Smiley's? We'll never know.

Apart from the localized hit in the Gulf, equity markets are back where they were, more or less. Bonds though are still near the highs, but they were on an uptrend anyway.
Recent pieces of economic news have been tinged of a rosy hue, cancelling the mood effect of the darker ones from previous weeks.
The views then revert to what they were. Use the time to prepare for next year.

Why the picture? Well, why not?