EURUSD should be rangebound
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Since the financial crisis, for a relatively liquid investment CLOs consistently have had the highest spreads net of capital costs for US life insurers.
The current U.S. earnings growth downcycle has been largely consistent with the recent deterioration in macroeconomic momentum.
The economic backdrop in 2019 has been characterized by weakness in manufacturing being offset by the resilience of services and health of the consumer.
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