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Looking for deeper insight into markets? In tonight’s Closer sent to Bespoke Institutional clients, we begin with some commentary regarding Venezuela, strategic oil reserves, and Treasury refunding (page 1). We then recap the latest earnings (page 2) before turning over to a final update of our Five Fed Manufacturing Composite for the month of July as well as some special questions from the Dallas Fed report (page 3). We close out with a look into the latest positioning data (pages 4 – 7)

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