Just as an update on a major subject, which most sell side economists, strategists and analysts have grossly overlooked still so far yet, the impact of a temporary strengthening US$ against major currencies like the Yen, the Euro on US exports/imports, current account, and on corporate revenues and earnings. We had started to point to this significant subject in our Q 2 Global Strategy Outlook, and already do we see impacts of this highly overlooked and underestimated subject on earnings releases for major US companies, like Caterpillar, Coca Cola,  AAPL, JBL, BA, to name just a few.