Following a 2019 in which risk and interest sensitive assets rebounded after a severe global bear market in 2018, is 2020 the year of reflation? Before answering this question, a review of 2019 is necessary. January 2019: Correction or just the first leg of a big bear market? "...whether global equity markets have already put in their respective lows for prolonged period or if panic does occur, this environment has the potential to wrong foot inflexible bulls and bears alike creating the tinder for explosive moves in either direction." April 2019: Global bonds continue their rise as the Fed pauses "...current market conditions still requires that market participants remain flexible even if a bias toward optimism continues to be favorable." June 2019: What a difference a year makes "...unlike much of 2018, the necessary conditions for a sustained breakout and uptrend in risk assets are in place today." Oct 2019: On the Cusp of Recession or Recov...