Global Market Commentary

October 17, 2014

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Falling Oil 

Oil continues its sharp decline, driven by seasonal factors, although a strong U.S. Dollar and global growth slowdown fears are also involved. Oil companies have been hurt, and the U.S. consumer is benefitting from cheaper gasoline. Although the strong Dollar may eventually hurt U.S. exports, we note that sharp oil price declines outside of recessions have often gone hand in hand with stock market rallies.

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