Incentives will matter a lot in coming weeks and months if the Fed has actually paused. Interest rate volatility is likely to come down, which mechanically leads to increased risk appetite.
![Steno Signals #53 – 3 reasons why incentives will drive everything](https://stenoresearch.com/wp-content/uploads/2022/12/Steno-Signals-–-Coverart-b1000.jpg)
Incentives will matter a lot in coming weeks and months if the Fed has actually paused. Interest rate volatility is likely to come down, which mechanically leads to increased risk appetite.