Global markets drifted lower, down -0.5% for the week (MSCI AC World Index YTD return of -1.2%), as rising US unemployment and renewed tensions between the US and China offset the EU stimulus plan and potential vaccine hopes.

The market rotation that began the previous week remained in evidence as the tech-heavy NASDAQ under-performed on concerns that many tech names have become overvalued after outperforming by a wide margin year to date. CLICK HERE