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Looking for deeper insight on markets?  In tonight’s Closer sent to Bespoke Institutional clients, we begin with a note on the recent weakness of small caps after they saw their worst day of the year today. Next, we turn to US Census data on the December trade balance which showed a decade high deficit in 2018. We take an in depth look as to the causes of this deficit before finishing with our weekly looks at EIA petroleum data and ICI’s mutual fund flows.

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