When systems come to be far from points of equilibrium, they reach bifurcation points, wherein multiple, as opposed to unique, solutions, to instability become possible. - Immanuel Wallerstein
Usually, a rate cut should invigorate the markets, increasing risk-taking and bullish sentiment. Numerous studies have shown that the days before and right after Fed cuts are strong ones for equities. After all, borrowing money post-rate-cut becomes cheaper, and cash yielding assets become more expensive. As of now, however, the markets simply aren’t following the historical script. The S&P 500 (SPY) reacted very negatively to