Deep Tide TechFlow message. According to a study by Chaowang Research, a JPMorgan report dated September 18, 2026 states that the Federal Reserve will raise rates by 25 basis points to 3.75–4.00%, with the Bank of Japan simultaneously raising rates, as global central banks shift toward synchronized tightening. The dot plot shows that there is one more rate hike within the year. Eight committee members expect another hike next year. JPMorgan expects a 25-basis-point hike in December, raising its target yields for U.S. 2-year and 10-year Treasuries to 4.70% and 5.05%, respectively.
JPMorgan believes that as long as the rate-hike cycle remains shallow, the stock market will still be anchored by corporate earnings and can withstand 10-year yields nearing 6%. Large-cap stocks, technology, and communication services perform better during the rate hikes. It recommends overweighting equities and emerging markets, and also believes that Brent crude is unlikely to remain consistently above $100 per barrel.
JPMorgan believes that as long as the rate-hike cycle remains shallow, the stock market will still be anchored by corporate earnings and can withstand 10-year yields nearing 6%. Large-cap stocks, technology, and communication services perform better during the rate hikes. It recommends overweighting equities and emerging markets, and also believes that Brent crude is unlikely to remain consistently above $100 per barrel.