CL 03 12 (1 Min) 07.27.11

7/27/2011 FED Beige Book (0800 HI time / 1400 EDT)
Forecast: n/a
Actual: n/a
DOWNWARD FAN
Started @ 99.06
Peak@ 98.06 – 0842 (42 min)
100ticks

Notes: Report was underperforming overall showing moderate or no economic growth in all 12 sectors. This caused a methodical drop in oil of 100 ticks over 42 minutes.