Even after the Consumer Price Index (CPI) topped 4% in May, bulls have shrugged off the energy shock from the war in the Middle East, as well as lingering effects of President Donald Trump's tariffs.
And with accelerating inflation, continuing geopolitical unrest and a high-stakes election season just around the corner, it's likely risks will remain elevated in the months ahead. At the same time, markets no longer expect lower interest rates this year.
