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We're living in a twisted reality, where the best news is not good news at all

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You know you’ve tripped through the looking glass when the best kind of news is not good news at all. So it is with today's US jobs data. Non-farm payrolls rose by 175,000, a touch above forecasts, but unemployment edged up from 7.5pc to 7.6pc. On the one hand, it suggested the economy is recovering. [...]

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