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Equity markets were generally flat over the past week. But, the more noticeable action occurred in the bond markets, where an increase in yields has gained steam of late.

Increasing confidence that the pandemic is under control and that a very robust economic and earnings recovery will soon be upon us has been the narrative in the global equity markets over the past few weeks.

The past week was highlighted by a meaningful decline in volatility, as investors shifted their attention back to fundamental factors