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Employment situation before tomorrows jobs number. Earnings season kicks off today. In more about what they are doing here. Class in the United States, we have two issues for the fed to worry about. In europe, the bank of england deals with unemployment and inflation but really targets inflation. Inflation theyre coming down to their level. On holdt their rate today. The economy is so little shaky. They have a problem with too little unemployment in the sense they would keep rates on hold until seven percent. Everybody is watching them. The relation for the ecb is the opposite. Inflation is too low. They are a little bit lower than we are here in the United States. Even though they did not ask this month, people think they might have to. How are the markets going to translate this . It is playing out as good news because the economy is not the issue. Inflation is the issue. A huge reaction in european bonds. We were on death watch for european bonds. Now, italian and spanish and portug

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