The last 2 times in the first half! The market lowers "the expectation of the Federal Reserve's interest rate cuts next year," will 2026 become the "policy turning point" for global central banks?

The market has reduced expectations for significant interest rate cuts by the Federal Reserve next year, predicting only a 50 basis point cut in 2026. Major central banks such as the European Central Bank and the Bank of Canada are facing expectations of interest rate hikes, and policy divergence may reshape the global monetary policy landscape. Traders are adjusting their expectations for Federal Reserve rate cuts, with interest rate futures and options indicating a narrowing of the expected cut magnitude. Inflation pressures persist, and a JPMorgan survey shows that Treasury bond investors are shifting to a neutral stance. A New York Life investment strategist believes that the Federal Reserve's interest rate hikes pose a risk