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Here are Friday's top research calls, including upgrades for J.C. Penney and Square, a downgrade for Lululemon and new coverage on Exxon Mobil.
The surge in interest rates and President-elect Trump's protectionist talk won't necessarily sink emerging market bonds.
The 'Trump trade' is overdone, says Sebastien Page, co-head of the asset allocation group at T. Rowe Price.