Britain said its gross domestic product shrank 1

So far the Broncos have yet to really be perfect this season, but with a little lady luck they stand 5-0 and atop the AFC West with a two and a half game lead over the Chargers. Monday night is yet another test for McDaniels and his boys, but one if passed should not only satisfy the critics, but legitimize this team as the "real deal." That’s my take. Check back every week for more of “That’s My Take”. Stocks sharply lower on poor earnings Stocks Currencies Bonds Funds News ETFs News Wall Street set for steep fall Britain in recession, pound at 23-year low Two-year euro bonds at record low yield By Jeremy Gaunt, European Investment Correspondent LONDON, Jan 23 (Reuters) - Gloom about the global economyspread to company earnings on Friday, pulling equities sharplylower while Britain's formal arrival in recession hit the poundagain Wall Street looked set for steep losses at its open. GeneralElectric (GE.N) epitomised the mood, reporting a 44 percent dropin quarterly profits. Britain said its gross domestic product shrank 1.5 percentin the fourth quarter ECON.

Sterling hit a 23-year low againstthe dollar GPB below $1.36 Earnings worries were to the fore. It followed heavy losses overnight on Wall Street, whereMicrosoft (MSFT.O) cautioned that it could no longer offerprofit forecasts for the rest of the fiscal year after posting aquarterly profit that fell short of expectations. In Europe, the FTSEurofirst 300 .FTEU3 index was downaround 1.9 percent, looking set for its 12th session of declineout of 13. "Earnings have been as bad as expected," said BernardMcAlinden, investment strategist at NCB Stockbrokers "The testis whether the markets have discounted that or not.

But theyseem to be taking it nervously." Japan's Nikkei stock average .N225 earlier lost 3.8percent. In a report on investment flows, State Street said itslatest calculations showed cross-border equity flows running atone of the most risk-averse levels for a record 118 tradingdays. "The one optimistic sign is that emerging market flows haverebounded," it said. SAFETY The mood of investor caution lifted currencies thatcurrently benefit from risk aversion.