The US-Iran war has completely shifted the regime.


The topic is no longer about rate cuts. It's rate hikes all over again.
The market is pricing in almost 0% chance of a rate cut, with a 40% chance of a rate hike as early as January 2027.
Back then, the market bottomed on hopes that the 2022 hiking cycle would pivot, which it did.
Now we're back at it again, yet the S&P 500 is at an ATH. Truly a complex market we're in.
SPX500-0.16%
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