Yesterday’s events in the United States are so horrific, and so important on both a human and a political scale that we may say that America will never be the same again. The human tragedy is such as to dwarf any concerns about the purely financial impact. Nevertheless, you, our clients, may still need to take decisions in this difficult environment and will wonder how matters economic and financial will be affected by these tragic events. Accordingly, with all deference to the much greater importance of other aspects, we hereby give our preliminary thoughts about the economic and financial aspects.
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