US employment data in focus Earlier this week, the Federal Open Market Committee (FOMC) held its 2-day policy meeting. The bank kept policy on hold and upgraded the economic assessment, however comments from Ben Bernanke – which did not provide any new insight in our view – kept Treasury yields low, equity markets supported, and the dollar soft with QE3 speculation back into focus. Fed projections showed upwards revision to real GDP growth with forecasts of 2.4%-2.9% for 2012 up from the prior 2.2%-2.7% estimate and the unemployment rate forecast was lowered to 7.8%-8% this year from the previous forecast of ... (full story)