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The U.S. is passing the baton in leading the economic restart to other developed markets; but we see fresh challenges in many emerging markets.
Better-than-expected U.S. jobs data drove U.S. 10-year bond yields to the highest level in two weeks. U.S. stocks hit record highs.
China’s lending data will likely be in focus after Beijing has recently signaled a near-term dovish shift in monetary and fiscal policy as growth slows down.