Real Vision managing editor Ed Harrison joins editor Max Wiethe to discuss the potentially negative jobs data that Ed is watching out for later this week. Harrison also highlights the four fiscal cliffs between now and the inauguration that could potentially cause permanent economic damage and undermine the optimism surrounding the vaccine rotation trade. They also discuss the importance of perceived duration in how certain assets react to these surprises in real economic data. In the intro, Real Vision's Peter Cooper discusses the new ADP numbers, the latest data on the spread of COVID-19 in the U.S., the U.K.'s emergency-use authorization of Pfizer and BioNTech SE's vaccine, and president-elect Biden's nominations for key economic positions in his administration.