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BLOOMBERG Bloomberg Real Yield September 3, 2017

Consider how fixed Income Research will survive as we know it. And we start with the big issue today, with our question, the u. S. Jobs report. One month is noise, and the next few months will be noisy because of the disruption of the hurricane. Im not sure i would put too much stock in those numbers. It is on the softer side. It benefits all of our positions in International Markets where we think returns will be higher, but we shouldnt forget that this number will be back on track before long. Claims are much more stable than, you know, payrolls, and they are not showing any problem. We have had all sorts of numbers. But when it is not confirmed by other data, Consumer Confidence remains very strong. I think the market is going to blow this off. The first thing i looked at was the wage number and it has been flat at 2. 5 for a long period of time. We need to put more money back in u. S. Consumers pockets. That is what were trying to do by wage growth and tax efficiency. I think the f

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