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Global equities recovered during the last week while the bond complex continued in a downward trend.
Regarding the passage of a stimulus bill, stimulus checks are already hitting bank accounts. The distribution of stimulus checks and the additional spending in the stimulus bill combined with receding Covid activity should cause the real economy to accelerate in the near to medium term. While accelerating real economic activity is positive, the possibility of accelerating inflation is of concern for consumers and bondholders.
Best
Cory Haupt
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