Diary: Guardian goes Egyptian but bookie backs Times

Another day, another newspaper relaunch. This week, it was the turn of The Guardian, which emerged on Monday in its new Berliner format. What's more, it is now sporting a fancy new font, Guardian Egyptian, no less, which has replaced the tired old gentleman's mixture of Miller, Helvetica and Garamond.

But the masterstroke of the re-launch strategy was the decision to carry a quote from Campaign on the front pages of both Friday's Guardian and Sunday's Observer - a decision we readily applaud.

However, now it is time for the relaunch to deliver and help The Guardian halt its 28-month sales decline. It may or may not cheer The Guardian's senior management to know that Paddy Power is right behind them, offering odds of 7/4 that the paper's sales figures will climb back up to the 360,000-380,000 range for September.

However, surprisingly, the bookmaker believes September will see The Times record even bigger circulation increases on the back of its relaunched Times2 magazine.

Is this madness? Surely Paddy Power has failed to take into account the appeal of the new Guardian Egyptian font?