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1.Market Observations

21 Jan 2013 (AFR) – US shares shine as Obama ends first term

(21 Jan 2013, AFR, p10, Ben Potter, Washington)

‘Sharemarkets in the United States ended Barack Obama’s first term as President on a high note as Wall Street banks continued to beat earnings expectations and Congressional Republicans beat a tactical retreat in the debt ceiling fight. Emerging from a two-day meeting in Virginia, Republican leaders said they had agreed to extend the debt ceiling by three months to allow it to be debated with mandatory spending cuts and a new budget spending authority in February and March.’

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