It seems there were some adjustments in the odds. This clearly different from what i've seen before. This fair enough to put PSG as the strongest candidate back to back Champion. I also agree to put Liverpool and Madrid as the most favorite 2nd and 3rd. However, it's pity to see Arsenal being placed above City. I'd prefer to put City over Arsenal but considering this is the start, and it may happen at the middle of season.
To my knowledge about Inter has same odds as Newcastle, this most probably due to they lost Inzaghi. They have. coach who always brought them to the final, but always lost. So bookies changed their perception over Intermilan, which is coaching by a mediocre coach right now.
I think that's fair to give them same odds as Newcastle. I will never recognize them title contender until they can get rid of Chivu, then sign a quality coach.