We investigate the effects of spin-polarized leads on the Kondo physics of a quantum dot using the numerical renormalization group method. Our study demonstrates in an unambiguous way that the Kondo effect is not necessarily suppressed by the lead polarization: While the Kondo effect is quenched for the asymmetric Anderson model, it survives even for finite polarizations in the regime where charge fluctuations are negligible. We propose the linear tunneling magnetoresistance as an experimental signature of these behaviors. We also report on the influence of spin-flip processes.

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