Otavio (Tavi) Costa(@TaviCosta):If this is the hawkish Fed we were promised, imagine what a dovish Fed could look like. Keep in mind: The market is still pricing in a 65% probability of a rate hike next month and roughly a 50% chance of two hikes by January. I find that highly unlikely — and a potential major tailwind for metals.

Otavio (Tavi) Costa

@TaviCosta

Founder & CEO of Azuria Capital LLC. Macro thinker, history student, value-oriented investor. Native of Sao Paulo, Brazil 🇧🇷 E-mail: tavi@azuriacapital.com

Joined June 2014

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Otavio (Tavi) Costa@TaviCosta

2026.07.31 01:43

If this is the hawkish Fed we were promised, imagine what a dovish Fed could look like. Keep in mind: The market is still pricing in a 65% probability of a rate hike next month and roughly a 50% chance of two hikes by January. I find that highly unlikely — and a potential major tailwind for metals.