Post #15413

Calmer Markets, Stronger S&P S&P 500 is green on the day, up 0.33%, continuing its recovery from last week’s selloff. We’re not back to mid-November levels yet, but price action suggests we’re heading in that direction. Dip buyers remain active, and momentum is slowly shifting back toward the bulls. Volatility is cooling off. Lower volatility = easier runway for equities. Markets breathe better when things calm down, and that’s what we’re seeing today. A rebound in JGBs overnight eased global fear, giving US equities some relief after yesterday’s risk-off move. CME Fedwatch now puts a December rate cut at 87%—that’s extremely high conviction. Hassett likely to become the next Fed Chair He’s known as a dove. A dovish chair + an easing Fed = bullish environment for risk assets heading into 2026. Equities are catching a bid again as global fear cools and the macro backdrop leans more supportive. If the S&P can break back toward mid-Nov levels, momentum could pick up into December. - Alan