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The Newsletter

Succinct Summary:  Q3 earnings season kicked off in earnest this past week with several banks reporting. Most companies noted that the US consumer is doing very well. Consequently, the US economy has a solid grounding, despite the slowed down global growth. The surprise move to zero brokerage commissions was unexpected by some. The impact has been accelerated flows into ETFs and brokers adjusting to the reduced revenues by trying to cut costs to maintain margins.

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