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CPI Data Generates Calm Initial Reaction, But Some Troubling Trends Under the Surface - Citigroup (NYSE:C), Delta Air Lines (NYSE:DAL)

(Thursday market open) An eagerly awaited report on U.S. consumer inflation didn’t appear too frightening early Thursday, and major indexes initially appeared unhindered as the October rally rolled on.

BO Report: Exhibitors positive with MI7 strong and Barbie , Oppenheimer just around the corner

BO Report: Exhibitors positive with MI7 strong and Barbie , Oppenheimer just around the corner
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US Payrolls Take Center Stage Today

US payrolls take center stage today. 200k net job growth is expected. Average hourly earnings are seen easing from 0.5% M/M to 0.3% (4.4% Y/Y). The unemployment rate might rise marginally from 3.4% to 3.5%. Considering yesterd y’s market dynamics, the payrolls p obably have to be very strong for markets to reconsider a more hawkish Fed reaction function. Any softer details will only confirm yesterday’s trends. For the US 2-y yield, 4.28% is a first support. The 10-y yield is already testing the 4.64/60% support area (previous highs). Fortunes for the dollar changed too. EUR/USD regaining the 1.0727 area called off the downward alert, opening the prospect for a further technical rebound.

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