India enjoyed a perfect start to the day, advancing a solid overnight position of 311-5 to a virtually impregnable one of 422-5 soon after lunch.

BBC: Krejza raises Australia's spirits

Certainly, given how poorly Mitt Romney has been doing at a time when the state of the economy should have handed him an impregnable lead, it is clear that the Republican party is going through a historic life crisis.

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Its once impregnable popularity increasingly under pressure on other fronts, a long housing recession is the last thing it needs.

ECONOMIST: Housing