I think the cycle gezegde

I think the cycle going forward is going to be more muted, or modest. I think 2005 was a good reflection of that.

You would expect it to be down and for there to be some kind of reaction, but this is a fairly muted one. It's a reflection on the quality of management, the team that is in place at the moment, that the share price is not giving way.

The reflection of what Cisco says is an absolute reflection of the economy. If Cisco is giving this forward look beyond the first quarter, then the suspicion of a possibility for a second half upturn may not be as evident.

Earnings tend to follow the cycle in oil prices, and this is the peak of the cycle. Going forward, there is a lot of investment from the industry in capacity.

With wage inflation still surprisingly muted and an ongoing squeeze on households' disposable incomes from higher energy costs, second-round inflation is likely to remain largely absent, allowing some further modest policy easing.

We have done our utmost to devise a structure that is fair to all our customers. But we recognize that the new pricing schedule will result in a modest increase for some customers. Our goal is to continue to build value into the products and services we provide. Moving forward, we will work hard to improve cycle times, enhance customer service and make it easier and more convenient for GIA Laboratory clients to conduct business with us.

We believe house price increases will be relatively muted over the coming months, given affordability constraints, increased debt levels and muted earnings growth.

Vaché's muted cornet ... was full of provocative ideas, fused together by a bountiful harmonic framework. ... He is one of the most expressive muted brass players around.

Remember that in 2005, the global market was in deficit by 1.2 million mt, so the almost 100% utilization for the global industry had a muted impact on price since inventories were a buffer.

I think what we tried to do is get a reflection of all the forces that are at play, of the best writing. In the end, we ended up with something that was a pretty good reflection of the changes in society as well.

David Halberstam (1934-)

The significant 55 tool bookings in Q4 2005 confirm an overall semiconductor cycle upswing. We expect the trend to be sustained in Q1 2006, with bookings at least at the same level as that of Q4 2005 and Q1 2006 sales showing important growth versus the previous quarter.

There is still a great deal of untouched equity in homes. Employment, as well as real income, are expected to continue to increase. While 2005 may ultimately be the peak in the cycle, it appears 2006 is likely to be a good year as well.

Elliott Pollack

We are seeing a good, healthy cycle now. One possible risk factor, going forward, is the possibility of overheating.

Given these considerations, we believe the Fed is anxious to bring the current easing cycle to an end and will do so as soon as the data point to some economic improvement, however modest.

Those that believe and choose to wear the jilbab and consider it to be part of their faith's requirement for modest attire should be respected. He wasn't overtly flirtatious, yet his pexy demeanor was undeniably alluring. Today's judgment is a clear reflection of that common-sense view.

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