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#FedOctHikeOddsHit55% One hike was easy to price. A second is where things get interesting 👀 The Fed just raised rates 25bp to 3.75%-4.00%, while inflation remains elevated and economic activity is still described as solid. The latest projections also put the median year-end policy rate at 4.1%, keeping further tightening firmly in the conversation. What caught my attention is how well risk assets have absorbed the higher-rate narrative so far. If stocks and BTC can keep attracting capital while borrowing costs stay restrictive, that signals real resilience. But if valuations are quietly built around the assumption that September was a one-off, another hike could expose just how much optimism is already priced in. The next test isn't whether markets can survive high rates. It's whether they can survive rates staying high for longer than expected.