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The city's deposits in the currency more than tripled to 407.7 billion yuan in the six months through February, the Hong Kong Monetary Authority data show. "Right now the market is testing the yuan but once they get used to it I expect more IPOs," said Chan, adding that there will be no regulatory limits on volume of issuance.
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The Bureau of Labor Statistics said the economy added 4,000 more jobs in January and February than it previously reported. Other data suggest the economic recovery is gaining strength. The number of Americans seeking jobless benefits fell last week to a four-year low, the government said on Thursday. Consumers are more confident and spending more. The service sector expanded at a healthy clip in March and increased hiring, according to a private survey released on Wednesday by the Institute for Supply Management. Factories are busier. Firms are investing more, ordering more machinery and other equipment..
The gains didn't come from a steady climb, however. Stocks routinely sold off or rallied during the final hours of trading each day. Bond prices fell yesterday but pulled off their lows after the gains in stocks began to slide. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.27 percent from 3.24 percent Authentic Retro Jordans late Friday.
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