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June 20, 2012

QE-Off, Reality-On But Merkel/Van Rompuy Save The Day (For Now)

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We watched, we dipped, and then we ripped. Disappointment at no new QE drove Silver down first, then Oil and then the rest of the risk basket tumbled notably. EURUSD dumped 60pips, ES dropped 7-8pts to Monday's close, Treasury Yields dropped 6-7bps, Commodities (Gold, Silver, Oil, Copper) all fell 1... FF News: Fundamental

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