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Job data welcomed as markets await Fed
The “great correlation trade” crunched back into gear on Wednesday as markets successfully negotiated the day’s important batch of data, pushing equities, oil and gold higher and forcing the dollar lower ahead of an eagerly anticipated announcement from the US Federal Reserve. The US-based ADP ...
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Lunch Wrap
FT Alphaville — ... don’t like news releases. - Booting the debt-buyback tax break. - Asset bubble warnings, international monetary institution edition. - John Paulson’s self doubts in Further reading . - WTI losing its shine in Pink picks . - Cadbury, gold and housebuilders in Markets Live . On FT.com, - Gold extends record breaking run. -  Anger over GM’s Opel U-turn . - World Bank raises east Asia growth forecast. - Global markets poised for Fed announcement.

Markets Thrilled That People Keep Losing Their Jobs
Dealbreaker — The headline in the Financial Times blares, "Job data welcomed as markets await Fed." What job data, you might ask? Well, the great news that another 203,000 Americans lost their jobs last month. Yes, yes, we understand that it's the smallest number of job losses ADP has had to offer in a year-and-a-half. But the report was still a good deal worse than analysts expected. And it certainly offers some indication that the economic recovery--such as it is--hasn't quite trickled down just yet. But wait, there is some more good news from the ADP ...

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