What Changed
- Geopolitical Risk ↓
- Yesterday: Escalation fears
- Today: Containment
➡️ Oil stabilized / volatility declined
- Rates Narrative = Stable
- No new hawkish surprise
➡️ الأسواق تتأقلم مع المستويات الحالية
- China Expectations ↓
- From stimulus optimism → realistic محدود
➡️ Lower speculative flows
- Japan Risk ↑
- Yen weakness now policy threat
➡️ Higher FX volatility probability
- Market Phase Shift
- From recovery attempt → consolidation phase