Quiet Flows the Don

For the first time in 100 years, a challenger unseated an incumbent President at a time of strong economic and market tailwinds. However, the election delivered a clearer referendum on the President himself than on policy issues dividing Democrats and Republicans; it looks like divided government may remain. So, in this week’s Eye on the Market, a (possibly) divided government investor playbook. To conclude, comments on this morning’s Pfizer vaccine news and the road to herd immunity (approval, distribution and acceptance).