The recent central bank minutes signal a notable shift in the economic landscape. What's catching attention? The easing of US tariff pressures has opened some breathing room, and that's paired with strengthening conditions across global markets.

Here's what matters: when tariff headwinds ease, capital flows stabilize. Domestic producers face less margin compression, consumer spending patterns normalize, and cross-border trade friction decreases. Simultaneously, improved conditions abroad mean emerging markets aren't contracting, developed economies aren't stalling, and synchronized weakness—which typically crushes risk assets—seems less likely.

For those tracking macro cycles, this matters. A moderating inflation environment combined with better global growth prospects typically supports risk appetite. It doesn't guarantee a bull run, but it removes a major headwind that's been weighing on valuations and sentiment across financial markets.