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We have upgraded emerging market debt on a tactical basis as positive vaccine developments bolster the case for an accelerated global restart in 2021.
Global stocks hit record highs as the transition of power officially started in the U.S. The rally fizzled on the virus resurgence and disappointing jobs data.
This week’s U.S. nonfarm payrolls data will be in focus after recent data pointing to softening activity. Markets are also waiting for a potential Brexit trade deal.