Inflation Is Heating Up Again! The Fed Rate-Cut Dream Is Shattered—Will Global Assets Face a Major Adjustment at the End of 2026?

In the final quarter of 2026, global investors may once again face a familiar question: Will money stay cheap?
Both US October CPI and core CPI came in above expectations, and the market has once again raised its expectations for Fed rate hikes.
This means investors who had expected monetary policy to ease may need to adjust their strategies.
If interest rates stay high or rise further, the impact will extend beyond the US economy.
US stock valuations may come under pressure, BTC may face a liquidity squeeze, and gold may also be affected by a stronger dollar and rising real yields.
But this does not mean all assets will fall in tandem.
Different assets have different earnings potential, supply-demand structures, and risk profiles, so market reactions may diverge.
More importantly, inflation is only one part of the Fed’s decision-making; employment, economic growth, and financial stability are also important.
My view is that global markets may enter a more sensitive macro-trading phase in the period ahead.
In the past, investing meant looking at narratives; now, you also have to watch CPI, PCE, and Fed remarks.
The market hasn’t become more complex; investors just have more homework. $MSFT

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