BULL RUN OVER?

Investors are left pondering what catalysts are needed that could propel the market above its previous high, while being aware of the persisting risks and the market’s historic ability to overcome uncertainties over time.

FED AMBIGUITY TO THE FORE

Overall, the Fed remains hawkish, keeping rates high to control inflation and simultaneously make sure the economy stays strong.

YEN UNDER PRESSURE

Yen’s susceptibility to short-selling due to low yields in Japan, coupled with its attractiveness for funding trades, will keep the USD/JPY above 145 in the medium term.