There was no main theme during the last week as the global financial markets try to measure Chinese growth while attempting to weigh the impact of a FED tapering of its quantitative easing program (QE). There is a continual to and fro as the equity markets are holding up well in the face of rising long-term interest rates, but as I have maintained, the yield curves are steepening as investors understand that the FED may be tapering but it is not tightening. This is not 1994. With this in mind let us examine some other issues.