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It’s a Yellen Miracle

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The week opened on a weak note as the market was dragged down by continued weakness in oil prices, down 2.2% by the close on Tuesday as the Grinch prepared to steal our Christmas rally. However, Janet Yellen delivered her own Christmas present by letting out her inner politician and promising everything under the sun. Traders, who had gotten bruised when the Grinch spirited away our rally, rejoiced at its return under the guise of a Fed statement.

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