An Election and a Bullwhip 

A K-Shaped Recovery

The Ongoing Need for Caution

An Uneasy and Uneven Recovery

A Great Divide – The Economy vs. The Market

Pockets of Optimism

Bracing During the Pandemic's Peak

Looking for Containment

Last month closed out a year that saw stocks and bonds rising in tandem. This is the first time since 1998 that both asset classes increased by such levels. This phenomenon was largely due to an accommodating monetary policy and an improving economic outlook combined with rising fear of trade conflicts and geopolitical tensions. The end of the year brought some optimism to the latter as the U.S. and China signaled a preliminary deal is close at hand and Brexit appears set for the end of January. U.S.