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Tight markets kept consumer inventories down, preventing an inventory overhang that would dampen demand this year.
This type of transaction represents a growing trend in tight markets where it is difficult to find existing product and there are high barriers to entry," said Henkel.
ISE introduced the Second Market to create tight markets and additional liquidity for options classes that have typically experienced lower trading volumes.
Earnings growth is somewhat constrained by rising costs given tight labor markets, high energy-related prices (explosives and diesel fuel), high steel prices, and tight markets for equipment and parts.