#SantaRallyBegins 🎅📈 Risk Appetite Is Back, but Leadership Is Still Unclear
As we move into the year-end period, U.S. equity markets are pushing higher while the VIX continues to pull back, signaling that fear is being priced out rather than amplified. Importantly, this move looks less like a classic short-term Santa Claus rally and more like markets pricing in 2026 growth expectations ahead of time. This forward-looking behavior is generally constructive for risk assets, but it also brings nuance that traders need to respect.
🇺🇸 What the U.S. Market Is Signaling
Rising indices suggest th