The FED is projecting we need to write off this quarter as well with the surge of covid cases and at the same time, they are not contemplating an easing of Monetary Policy. Plus Biden is less likely to give stimulus to big businesses. Not only that Trump is most likely going to be dormant for the last 2 months of his presidency, so signs of stimulus seem bleak. This means liquidity is going to be dry for the next couple of months --> Bearish.