FOMC Week: 25bp Locked? Sell the News or Start Santa Rally?
This week, on December 10, we’ll get the FOMC decision and Powell’s speech. A 25bp rate cut is already a done deal. In the 1–2 months leading up to this cut, volatility has been high as the market continuously repositioned around expectations for easing. Once the rate cut is delivered, can the market continue to rise? And how should we think about rate cuts in 2026?