SCOREBOARD: Overrated jobs

Stocks rallied following strong US jobs figures, but that's unlikely to influence QE or tomorrow's Reserve Bank rates decision.

The big fear had been that the US sequester would cost many hundreds of thousands of jobs, and when we got the March payrolls those worst fears looked to be unfolding. There was that, or the oddly termed 'Spring swoon' or ‘Summer slowdown’, being marketed buy some (in reality the double dip lite, fear mongering in whatever form).

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