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  4. Market Update – Disappointing Jobless Claims Data Creates Flight to Quality
Thursday’s disappointing initial jobless claims and pending home sales data created a flight to quality. Today, the big number in the June employment report was the private payroll number. The private payroll report is untainted by temporary government census hiring, and was expected to rise for the fourth straight month. While it did rise, it was less than expected (+83K verus +110K).

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