Longer term, the index has fully recovered from the near-record-low -54 it fell to last summer as a political battle raged in the U.S. over raising the debt ceiling. The index is now marginally higher than its level at the start of 2011, which in turn was slightly improved over the high points reached in 2009 and 2010, and slightly better than where it stood at the beginning of January 2008.
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