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Credit Crunch, ETFs, Oil, and Apple

Bloomberg Intelligence

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The Fed's Negative Signals for the Second Half of the Year

Today's services ISM provides a less robust or less upbeat signal than we had from, say, the labor market data last Friday. So that's adjusted market pricing. And we're kind of going to be left parsing the signals for the second half of the year. Right now, markets still think there's a decent chance that they'll have to go again but obviously, things can change.

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