Hedge Fund manager Barton Biggs told Bloomberg reporters on Monday that he cut his long positions yet again and believes the odds of a U.S. recession are increasing.

FORBES: Top Value Picks In The BRICs For Thanksgiving Week

Wim Duisenberg, the ECB's president, noted during his weekend visit to Washington that euro-area inflation is currently close to the ECB's target apparently implying reluctance to cut rates further, even though Mr Duisenberg acknowledged that European growth prospects have been revised downwards yet again.

ECONOMIST: Must do better | The