14:08 ET Fed's Beige Book : The Beige Book's report on current economic conditions notes subdued activity as only a few districts saw change since the last report. Consumer spending was weak and business investment was soft. Manufacturing was weak but half of the districts saw improvement. The labor market continues to struggle as business remains cautious. Residential construction is strong as weak commercial spending and tighter business loan standards continue to leave consumers at the economic steering wheel.
Zeev, Thanks for all your help here. I especially appreciate your encouragement the other day that reinforced my will to hold the BU$$ short when it was trading around $16.
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