The Fred Report - Weekly July 25, 2011

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Exceeding the Cambridge Hook high of 137.18 should set the market up to attempt a move above the 140 - area resistance by the end of summer, in line with our forecast.  While our forecast has been for a stronger 2nd half to 2011, we are beginning to see more signs that this may not be in the cards.  We remain concerned that rates around the world could start to rise in the second half of 2011.

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