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No time for a mid-year celebration

The first half of an already tumultuous year — and one that has packed in some of the greatest hits from previous episodes of financial turbulence — is closing. For investors there is really no half-time break, let alone a Super Bowl style show such as this epic performance by Prince from a rain-swept Miami in 2007. Instead, investors are left assessing or fretting about the extent of the coming recovery in economic activity and corporate profits.
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