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Global & Local Market Overview – July 2011

The month of July has been fraught with market uncertainty and big decisions by policymakers. The U.S. has put a band-aid on the fiscal situation by raising the debt ceiling and committing to a debt reduction plan; whilst in Europe the ECB failed to soothe market fears with the European Financial Stability Fund. The market reaction has been sceptical in light of implementation delays and other concerns. For more information, please view the attached documents.