[MARKET UPDATE] Stocks see downside and Dollar gains as Miran now sees a less accommodative rate path, and "only" 100bps of cuts now this year vs 150bps in his December SEP; in summary, more hawkish remarks from the ultra dove Miran

Stocks see downside and Dollar gains as Miran now sees a less accommodative rate path, and "only" 100bps of cuts now this year vs 150bps in his December SEP; in summary, more hawkish remarks from the ultra dove Miran.

Miran's reassessment of the rate path suggests a more hawkish tone than previously anticipated, with a reduction in expected cuts from 150bps to 100bps this year. This shift could lead to increased support for the Dollar and pressure on equities, as the market adjusts to the possibility of tighter monetary policy than previously factored in. Traders should be prepared for volatility as both equity and currency markets react to this new guidance.