render html markup of words inside text

[lgrabarek]

I am trying to apply html markup to individual words in a sentence.  The behavior I want works on individual results; i.e., I can iterate through a list of words and display the html markup.

    html:
    {% assign w = entity_list | split: "|RECORD|" %}
    {% assign entitylistsize = w.size | minus: 1 %}

    {% for item in (0..entitylistsize) %}
        <mark style="color: white; background-color: #4285F4">{{w[item]}}</mark>
    {% endfor %};;

But it does not work when <mark></mark> is embedded in text, which would happen by means of a search and replace process on particular keywords.  How would I achieve rendering html markup on individual words in a sentence?  That is, how would I force Looker to render the html markup in the example below?

Thanks in advance!