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Weekly Commentary
| Week of April 14, 2008 |
Apr 14, 2008 |
Do you remember the catchy old slogan from GE, “We bring good things to life?” Well, last week they reneged on their pledge. ....read more |
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| Week of April 7, 2008 |
Apr 7, 2008 |
With the first quarter now in our rearview mirror, it’s a good time to reflect on the key issues that affected the markets. ....read more |
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| Week of March 31, 2008 |
Mar 31, 2008 |
Sometimes a loss feels like a win. Several economic indicators released last week suggest the economy is in a funk. Of course, you probably don’t need us to tell you that, but now we have a few more data points to fill in the picture. ....read more |
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| Week of March 24, 2008 |
Mar 24, 2008 |
They say truth is stranger than fiction and last week’s mind-boggling activity in the financial markets underscored that point. ....read more |
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| Week of March 17, 2008 |
Mar 17, 2008 |
The Wall Street roller coaster continues… On Monday, we heard the news about the fall from grace of former New York Governor Eliot Spitzer. ....read more |
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| Week of March 10, 2008 |
Mar 10, 2008 |
The American dream of home ownership is causing some people a lot of nightmares. Stocks took it on the chin again last week as weak housing and credit data helped keep investors in the doldrums. ....read more |
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| Week of March 3, 2008 |
Mar 3, 2008 |
“It's not what's in the news today, it's what's already in the price that matters.” ....read more |
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| Week of February 25, 2008 |
Feb 25, 2008 |
This up and down stock market may suggest that many investors have weak convictions about which direction they think the stock market will head over the near term. ....read more |
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| Week of February 18, 2008 |
Feb 18, 2008 |
There’s not always a direct correlation between what’s going on in the economy and what’s happening in the stock market. ....read more |
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| Week of February 11, 2008 |
Feb 11, 2008 |
Whether you call it news or noise, it sure moved the markets last week. The Institute of Supply Management (ISM) released its services sector index last Tuesday and the figure was well below what economists were expecting. ....read more |
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| Week of February 4, 2008 |
Feb 4, 2008 |
If there’s an upside to a down market, it’s that stock prices might get low enough to encourage strong companies to swoop in and make takeover offers. ....read more |
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| Week of January 28, 2008 |
Jan 28, 2008 |
It could have been much worse. When the markets opened last Tuesday morning after the Martin Luther King Day break, all signs pointed to a potential market meltdown. ....read more |
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| Week of January 21, 2008 |
Jan 21, 2008 |
Fasten your seat belts. There are times when market sentiment shifts and investors (speculators?) start functioning as a monolithic block and they either head for the exits all at once or they pile into the markets all at once. ....read more |
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| Week of January 14, 2008 |
Jan 14, 2008 |
Well, this isn’t exactly how we like to start the year. With the Dow Jones Industrial Average off 5.0 percent, it’s the worst opening eight days since 1991. ....read more |
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| Week of January 7, 2008 |
Jan 7, 2008 |
With 2007 in the history books, we’ll use this week’s commentary to review some of the key stories over the past quarter and year. The chart below shows it was an up year for the major stock indexes. ....read more |
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| Week of December 17, 2007 |
Dec 17, 2007 |
Another interest rate cut from the Federal Reserve was not enough to stop a downdraft in the stock market last week. ....read more |
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| Week of December 10, 2007 |
Dec 10, 2007 |
Productivity grew strongly last quarter and that may bode well for our standard of living. ....read more |
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| Week of December 3, 2007 |
Dec 3, 2007 |
Sometimes bad news is good news for the stock market. ....read more |
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| Week of November 26, 2007 |
Nov 26, 2007 |
Here is one place where insider trading is legal—and it’s sending us a bullish signal. ....read more |
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| Week of November 19, 2007 |
Nov 19, 2007 |
Recent volatility in the stock market has been good for the bond market. ....read more |
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| Week of November 5, 2007 |
Nov 5, 2007 |
Ask and you shall receive. Investors were asking for another interest rate cut and the Federal Open Market Committee (FOMC) delivered last week as they lowered the federal funds rate by a quarter percentage point. ....read more |
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| Week of October 29, 2007 |
Oct 29, 2007 |
Black gold (oil) and the shiny yellow metal we simply call “gold” both seem to be coveted items these days. ....read more |
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| Week of October 22, 2007 |
Oct 22, 2007 |
After a 10% rally in the Dow Jones Industrial Average between August 16th and October 9th, the Dow lopped off some of its frothiness last week. ....read more |
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| Week of October 15, 2007 |
Oct 15, 2007 |
As another week went into the history books, we hit another all-time high in the Dow Jones Industrial Average and the S&P 500 Index. ....read more |
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| Week of October 8, 2007 |
Oct 8, 2007 |
The Dow Jones Industrial Average and the S&P 500 both hit all-time highs last week as memories of the credit crunch began to take a back seat to positive news on the economy. ....read more |
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| Week of October 1, 2007 |
Oct 1, 2007 |
September turned out to be a solid month for the markets as the Dow Jones Industrial Average rose 4.0%, the S&P 500 gained 3.6%, and the NASDAQ gained 4.1%, according to Reuters. ....read more |
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| Week of September 24, 2007 |
Sept 24, 2007 |
When Fed Chairman Ben Bernanke talks, investors listen. ....read more |
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| Week of September 17, 2007 |
Sept 17, 2007 |
It seems rather surprising that oil prices hit a new all-time high last week (unadjusted for inflation), while at the same time, the Dow Jones Industrial Average registered its largest weekly gain since April 22nd, according to Reuters. ....read more |
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| Week of September 10, 2007 |
Sept 10, 2007 |
If there’s one thing Wall Street doesn’t like, it’s negative surprises and last Friday, the Labor Department unleashed a doozy. ....read more |
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| Week of September 04, 2007 |
Sept 04, 2007 |
Despite the volatility, August turned out to be a positive month in the stock market. ....read more |
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| Week of August 27, 2007 |
Aug 27, 2007 |
Sometimes Wall Street has a short-term memory. ....read more |
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| Week of August 20, 2007 |
Aug 20, 2007 |
We’re from the Federal Reserve and we’re here to help. ....read more |
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| Week of August 13, 2007 |
Aug 13, 2007 |
“All’s well that ends well.” So wrote Shakespeare 400 years ago and it seems an appropriate description for the stock market last week. ....read more |
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| Week of August 6, 2007 |
Aug 6, 2007 |
As big money players in the stock market gorged on easy credit terms over the past few years, they helped drive up stock prices. ....read more |
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| Week of July 30, 2007 |
July 30, 2007 |
Ping-pong anyone? ....read more |
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| Week of July 23, 2007 |
July 23, 2007 |
As the magic of Harry Potter reached its frenzied climax last Friday night, stock market investors were digesting another run in record territory. ....read more |
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| Week of June 25, 2007 |
June 25, 2007 |
Whether the market is “half full or half empty” may depend on your period of measurement. ....read more |
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Week of June 18, 2007 |
June 18, 2007 |
It usually doesn’t pay to be a pessimist—especially in the stock market.
....read more
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Week of June 11, 2007 |
June 11, 2007 |
Investors can be fickle. The optimism inspired by the first quarter’s weak economic growth dissipated last week. Why did a weak economy give investors a positive outlook, you ask? ....read more
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Week of June 4, 2007 |
June 4, 2007 |
Pass it forward: Good economic news in America helped European markets gain last week. ....read more
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Week of May 29, 2007 |
May 29, 2007 |
| According to Barrons.com, on Monday, the Standard & Poor’s 500 Index rose above its previous record high (about 1,527, reached on March 24, 2000). By the end of the trading day, it had dropped back down below the record.
....read more |
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Week of May 21, 2007 |
May 21, 2007 |
| Economic data—often the wind that fills the markets sails—was mixed last week, but that didn’t stop the Dow from reaching a new all-time high, or the Standard & Poor’s 500 Index from coming close to its record high, which was set in March of 2000, according to Barrons.com.
....read more |
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Week of May 14, 2007 |
May 14, 2007 |
| After a good performance on Monday, the Dow Jones Industrial Average, which had risen in 24 of 27 consecutive sessions (tying an almost 80-year-old record, according to Reuters) lost steam and fell on Tuesday.
....read more |
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Week of May 7, 2007 |
May 7, 2007 |
| The markets continued to accelerate, even as economic growth—as measured by gross domestic product—slowed to 1.3% for first quarter. The Dow Jones Industrial Average closed at its 18th record high for the year and, on Thursday, the Standard & Poor’s 500 Index moved above 1,500 for the first time in nearly seven years.
....read more |
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Week of April 30, 2007 |
Apr 30, 2007 |
| Economic news showed slowing economic growth, and yet a leading index reached new record highs. According to Barron’s, first quarter Gross Domestic Product growth was 1.3%, which was below analysts’ expectations.
....read more |
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Week of April 23, 2007 |
Apr 23, 2007 |
| All three major indices closed higher for the third week in a row, and the Dow Jones Industrial Average closed within 50 points of 13,000—potentially a new milestone for the index.
....read more |
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Week of April 16, 2007 |
Apr 16, 2007 |
| The market bounced back after a sell-off sparked by the Federal Reserve’s Open Market Committee (FOMC) minutes, which were far more hawkish on inflation than investors had expected.
....read more |
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Week of April 9, 2007 |
Apr 09, 2007 |
| With the first quarter now behind us, we thought this would be a good time to reflect on some of the key events that affected the markets during the first three months of the year.
....read more |
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Week of April 2, 2007 |
Apr 02, 2007 |
Despite headline-grabbing ups and downs in the stock market over the past three months, the market ended the first quarter pretty close to where it began on January 1.
....read more
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Week of March 26, 2007 |
Mar 26, 2007 |
| Investors aren’t sure whether the recent downturn is a correction, or the market is turning bearish, but the markets showed strength last week. Early on, bargain hunters and rumors of buyouts helped spark investor interest and push stocks higher, according to Barron’s Online.
....read more |
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Week of March 19, 2007 |
Mar 19, 2007 |
| When you consider famous pairings, I bet you almost never think: inflation and interest rates. However, that’s the pairing many financial analysts and economists are thinking about right now.
....read more |
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Week of March 12, 2007 |
Mar 12, 2006 |
| According to Barrons.com, on Monday, markets were down because of investor concerns about sell-offs in Asia and Europe. On Tuesday, they bounced back on good news in the technology sector, and as the result of market gains overseas.
....read more |
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Week of March 5, 2007 |
Mar 05, 2007 |
| In the last newsletter, I told you that bull markets usually stumble through several corrections—a correction is a market decline of 10% to 20%. Last week, the Dow opened on Monday morning at 12,647.88 and closed at 12,114.10. That’s a decline of slightly more than 4%.
....read more |
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Week of February 26, 2007 |
Feb 26, 2007 |
| Last week, higher oil prices, inflation concerns, and worries about high risk segments of the mortgage market worried investors. ....read more |
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Week of February 19, 2007 |
Feb 19, 2007 |
| Federal Reserve Chairman Ben Bernanke testified before the Senate Banking Committee on Valentine’s Day. His comments sparked confidence that interest rates would remain unchanged in the near future.
....read more |
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Week of February 12, 2007 |
Feb 12, 2007 |
| The economic news was good. The Bureau of Labor Statistics reported that labor costs were up during fourth quarter 2006, but productivity was up even more.
....read more |
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Week of February 5, 2007 |
Feb 5, 2007 |
| Not only did the Federal Reserve leave rates unchanged during its Federal Open Market Committee meeting, it also signaled that it may not need to increase rates in the near term because inflation appears to be easing, according to Bloomberg.com.
....read more |
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Week of January 29, 2007 |
Jan 29, 2007 |
| Lower inflation, slower but stable economic growth, further rate cuts by the Federal Reserve—these have been investors’ touchstones as they’ve envisioned a soft landing for the economy.
....read more |
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Week of January 22, 2007 |
Jan 22, 2007 |
| Although oil prices increased slightly last week on expectations of colder weather in some parts of the country, they’ve dropped 36% from last summer’s peak, according to Barron’s.
....read more |
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Week of January 15, 2007 |
Jan 15, 2007 |
| It was a week characterized by surprising economic news. According to Barron’s, the U.S. trade balance—the difference between the value of goods we export and goods we import— improved unexpectedly.
....read more |
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Week of January 8, 2007 |
Jan 8 , 2007 |
| They just couldn’t decide which. Early in the week, investors found the ISM manufacturing report encouraging, and the Dow Jones Industrial Average rose.
....read more |
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Week of January 2, 2007 |
Jan 2, 2007 |
| While 2006 will be remembered as a turn-around year, it didn’t end with a celebratory party. The last week of the year was a bit of a roller coaster with indexes showing gains early on in response to declining oil prices and moderate retail sales; signs that could indicate a need for the Federal Reserve to ease interest rates, according to Barron’s Online.
....read more |
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Week of March 6, 2006 |
Mar 06, 2006 |
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“How is the market doing?” is a common phrase heard across America from coffee shops to water coolers. Perhaps the best response to that question is, “It depends on how you define the market.”
....read more
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Week of February 27, 2006 |
Feb 27, 2006 |
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Rising geopolitical tensions are reverberating through the oil and precious metals markets.
....read more
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Week of February 21, 2006 |
Feb 21, 2006 |
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The Pittsburgh Steelers participation in Super Bowl XL may be very positive news for the stock market.
....read more
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Week of February 13, 2006 |
Feb 13, 2006 |
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Our insatiable appetite for imported goods and services set another record in 2005.
....read more
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Week of February 6, 2006 |
Feb 06, 2006 |
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Goodbye Alan, hello Ben.
....read more
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Week of January 30, 2006 |
Jan 30, 2006 |
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Headlines are sometimes misleading.
....read more
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Week of January 23, 2006 |
Jan 23, 2006 |
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We needed more than a few drops of Visine to “get the red out” of Wall Street last week.
....read more
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Week of January 17, 2006 |
Jan 17, 2006 |
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How has the economy persevered in the face of historically high energy prices?
....read more
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Week of January 9, 2006 |
Jan 09, 2006 |
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The New Year has been a good year so far!
....read more
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Week of January 3, 2006 |
Jan 03, 2006 |
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By historical standards, 2005 was a very low volatility year on Wall Street.
....read more
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Week of December 19, 2005 |
Dec 19, 2005 |
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Do you remember what you were doing on New Year’s Eve, December 31, 1999?
....read more
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Week of December 12, 2005 |
Dec 12, 2005 |
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U.S. productivity growth is healthy and that bodes well for our standard of living.
....read more
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Week of December 5, 2005 |
Dec 05, 2005 |
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Are financial markets efficient?
....read more
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Week of February 28, 2005 |
Feb 28, 2005 |
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“The sky is falling” or so thought many “Chicken Little” traders and
speculators last Tuesday.
....read more
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Week of February 21, 2005 |
Feb 21, 2005 |
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It seems like
there is always something to worry about in the
investing world.
....read more
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Week of February 14, 2005 |
Feb 14, 2005 |
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Bigger is not
always better. The business world is littered with the debris of
failed mega-mergers and last week’s ouster of
Hewlett-Packard chief Carly Fiorina
....read more
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Week of February 7, 2005 |
Feb 7, 2005 |
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What’s the formula for an up stock market? Last
week it appeared to be weaker than expected jobs
growth plus rising bond prices equals happy
investors.
....read more
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| WHAT’S THE PROBABILITY OF MAKING MONEY |
Dec 20, 2004 |
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Who would have guessed it one year ago?
In the December 29, 2003 issue of Barron’s magazine, 11 out of 12 market
strategists predicted the 10-year Treasury bond yield would rise to an
average of 5.15 percent by year end 2004 from a yield of 4.26 percent on
December 31, 2003. Well, guess what?
....read more
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