Summary

• Kevin Warsh’s Fed leadership signals a hawkish pivot, with Quantitative Tightening prioritized over rate cuts amid persistent inflation and robust employment.
• Markets now price in no imminent rate cuts and possible hikes, as Fed credibility and inflation expectations drive a shift in policy stance and communication.
• SpaceX’s $1.75T+ IPO redefines aerospace valuations but may mark a short-term market top and trigger significant liquidity withdrawal from public markets.
• AI tokenomics are maturing, with spending declines benefitting infrastructure owners and margin-focused software firms as cost discipline reshapes sector winners.
• Stay up to date with expert insights to navigate what’s shaping the financial landscape in the months ahead.

Introduction

Welcome to the SA’s The Macro Brief! This official SA Profile will highlight our analysts' latest economic and market analysis to help investors gauge the ever-volatile financial landscape through various recurring series.

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