Markets Have Decided the Rules Don't Apply Anymore

The Bull Market That Refuses to Read the Macro Manual

Jun 24, 2026

Below is a comprehensive breakdown of why equities continue to trade higher even as the dollar strengthens and both ends of the rates curve push up. Honestly, this is one of those macro setups where the cross-asset signals seem to be telling completely different stories, and the divergence is worth pulling apart properly.

I'd strongly recommend going back and reading the recent report connected to these ideas, as they all build on each other. The frameworks and themes carry across pieces, so the fuller picture only really comes together when you read them in sequence.