Carry Trade Reversal Pressuring Equity Markets
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U.S. equity markets are under pressure this morning following a better than expected Non-Farm Payrolls Report. This morning the government reported a surprise drop in the unemployment rate to 10 percent. Pre-report estimates were for the unemployment rate to remain unchanged at 10.2 percent. In addition, the total jobs lost came in at 11,000, well above estimates of 125,000. The October job loss was revised lower.
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