The economy is already in a glide path to recession and the Fed’s quickening pace in terms of QT will accelerate the decline in stock prices and increase in bond yields, said Phil Orlando, chief equity market strategist at Federated Hermes, who recently increased his cash allocation to a 20-year high.
Oil slips again as US, Iran sign peace deal
Oil prices dropped as the U.S. and Iran reached an interim agreement to end the war, reopen the Strait of Hormuz, and lift sanctions on
June 18, 2026