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“Economic reports received in November, which mostly reflect economic activity in October and early November, . . .

“Municipal bonds have underperformed Treasuries by a sizeable amount in recent months.” Source: WEEKLY COMMENTARY

. . .

“The Beige Book suggests continued modest economic growth” Source: WEEKLY COMMENTARY

. . .

“With equity markets making new highs and the bull market close to turning eight-years old, . . .

“Amid fluctuations in interest rates, shorter-term fixed income may deliver lower price volatility than longer-term.” . . .

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