Week Ahead | Finding Value in a Market at Highs Global markets were higher overnight (S&P 500 index +0.7%) as markets marched higher for 6th straight session (the longest rally since August) on virus infection rates slowdown & prospects of more stimulus. Investors ignored a a smaller-than-expected rebound in the US labour market last month, on comments by Treasury Secretary Janet Yellen that the US can return to full employment in 2022 if it enacts a robust enough relief package. In the US, all the major technology stocks that reported 4th quarter earnings last week (Alphabet, Amazon, Apple and Facebook) easily beat market expectations, with the reporting season overall again proving better than hoped. A by-product of increased confidence in the global economy is higher interest rates – and longer term rates have moved higher in recent months in the US, Australia, and NZ. While this is not an issue in the near term with central banks remaining super-c...