Market seems in denial of the approaching economic crash. Fed 'pause' most likely temporary before another hike. Inflation still high. Employment high. Normies feeling only minimal pain from rate rises. MUCH MUCH more pain on the horizon imo.
Discussion
I would like "number go up" just as much as any bull here but reality is either fed will keep pushing for inflation to come down, by any means necessary unless a contagion forces a pivot, which despite all the crypto and finance balaji bros saying that's 'about to happen' still has not happened. No contagion and no pivot. Hopium got them thinking a 'pause' means no more hikes to come.