They don't want to go too heavy because if it does pullback then they're paying the higher price so hedging is a two-edged sword in that respect.

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You wonder how long the unions will take it.

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I think it is the Singaporeans. These guys are readjusting their portfolios.

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It's the outlook that is causing some worry because they still have things like the race broadcasts and smoking bans to work through.

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