The Kobeissi Letter(@KobeissiLetter):The shift we are seeing right now is extraordinary. Markets now see a BASE case of 4 interest rate hikes by July 2027. To put this into perspective, at the start of 2026, markets saw 4 interest rate CUTS during this time period. That's a difference of +200 basis points between interest rate expectations now and 9 months ago. These are, by far, the most hawkish Fed policy expectations since the Fed began raising interest rates in March 2022. It's clear: the market believes "higher for longer" is back and inflation is here to stay. Wednesday is going to be an eventful day.

2026.09.11 19:50

The shift we are seeing right now is extraordinary. Markets now see a BASE case of 4 interest rate hikes by July 2027. To put this into perspective, at the start of 2026, markets saw 4 interest rate CUTS during this time period. That's a difference of +200 basis points between interest rate expectations now and 9 months ago. These are, by far, the most hawkish Fed policy expectations since the Fed began raising interest rates in March 2022. It's clear: the market believes "higher for longer" is back and inflation is here to stay. Wednesday is going to be an eventful day.

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