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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01380758: Sessions, Payroll and Forced (DS10)

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This document contains financial market analysis discussing global credit conditions, Glencore, China PMI data, Federal Reserve policy, forced index fund liquidation, and Petrobras bond performance. The excerpt references payroll data as a market indicator and discusses trading sessions from September 2015, but contains no information specific to Epstein entities or individuals.

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Excerpt 1
global credit (particularly on Glencore) and China (better- than-expected PMI), as well as a more dovish market view on future Fed hikes following a weak **payroll**
Excerpt 2
Further enhancing the conviction of marginal buyers was a growing perception that **forced** index fund liquidation might be close to running its course and
Excerpt 3
excluding the '16s) since our last piece (Petrobras - The USD44bn Falling Knife, 15 September 2015) Petrobras' bonds rebounded by 4-13 points in the last six **sessions**

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