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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin by evaluating the theory that monthly rebalancing has been driving the market at month’s end. In FX, we then take a look at the dollar’s weakness versus the euro. Turning to macro data, we review this morning’s release of MNI’s Chicago PMI which is pointing to a questionably bad ISM Manufacturing reading. We also look at today’s pending home sales data and the S&P/Case-Shiller home prices before finishing with an update on the Employment Cost Index.
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