the deployment of a vaccine may be nearing against renewed U.S.-China tensions.

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A global equity rally stalled as investors weighed signs the deployment of a vaccine may be nearing against renewed U.S.-China tensions. Treasuries were steady with the benchmark yield near its highest in nine months at just under 1%.

Asian shares traded mixed with Hong Kong stocks underperforming, while U.S. and European contracts edged lower. The S&P 500 Index notched a fresh all-time high on Friday. Testing the positive sentiment Monday was news that the U.S. is preparing sanctions on some Chinese officials. And the dollar edged higher.

Elsewhere, oil retreated after a fifth straight weekly advance. Australian bonds fell. The pound weakened amid concern about a Brexit deal.

Investors are warming toward the prospect of more U.S. stimulus after payrolls figures Friday showed a less-than-forecast increase. On the virus front, a senior U.S. health official said all Americans who want a vaccine should be able to get one by the second quarter of next year and that vaccinations could begin as early as Friday.

The head of investment strategy at AMP Capital Investors Ltd, Shane oliver said, “The deployment of vaccines is getting closer and this is continuing to help share markets look through the current problems with the virus and its economic impact”.