★It was unthinkable a couple of weeks ago, but could the next move by the Fed be a rate hike?

"A potential hawkish pivot, driven by energy-induced inflation, introduces significant volatility risk across asset classes, particularly fixed income and growth equities. This scenario would reprice credit risk and accelerate capital rotation towards defensive sectors, challenging existing portfolio allocations and market liquidity. Such a move also signals a structural shift in the Fed's reaction function to supply-side shocks."