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After a bumpy ride, the S&P500 (SPY) finished its second week in a row higher, up +2.3%. This seemed paltry against the Real Estate (IYR) sector's +6.2% gain on hints of extended low costs of borrowing, while the Energy (XLE) complex came in at a mere +0.3%. At the end of the day; however, it was difficult to disaggregate daily equity performance from that of the US Dollar (UUP), which inversely ended the week down some -2.2%.
Week Forty-Seven of 2009 features a particularly busy economic calendar:
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