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To be clear, this is an increase from calendar year 2020 to 2021. The 2020 baseline was artificially low with the pandemic. This isn't a trend, it's one skewed data point.



You're right, the trend is still down:

2018 - $696m

2019 - $631m

2021 - $584m


Yeah, it's almost certainly more likely that the CD sales market has hit a floor with a variable margin...




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