Emerging Markets (EM) inflation is increasing at a lesser rate than feared, while United States (US) inflation is rising faster than expected. Chile adopted another lockdown in Santiago as still unvaccinated younger members of the population remain vulnerable to Coronavirus. In Peru, Pedro Castillo won the presidential election run-off by a razor-thin margin and his opponent, Keiko Fujimori, disputed the result. China’s relationship with the US improved. Brazilian economic data surprised to the upside, leading to expectations of a lower debt to GDP ratio in 2021. Turkey’s president will meet with his US counterparty today at a North Atlantic Treaty Organisation (NATO) meeting. Mexico’s president moved his finance minister to Central Bank Governor and appointed an old ally as the country’s new minister of finance.