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Global equities trended higher last week while the bond complex faced selling pressure.
Democrat wins in both races in Georgia give the Democrat Party the slimmest control over the legislative agenda in the coming months. It is expected that both fiscal and monetary support for the economy will continue. Should the recovery continue, it is possible the bond complex will remain under pressure as the yield curve steepens.
Rollout of the COVID vaccine has been slow in the face of a rising number of infections in the U.S. Nonetheless, it seems possible that concrete signs of improvement could become obvious by the end of the first quarter of 2021 and into the second.
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Cory Haupt
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