Neil Dutta calling it "stagflation-lite" — not wrong. Growth slowing, inflation sticky, Fed stuck. Not the 1970s nightmare, but enough to make life uncomfortable for everyone.
The problem? Markets priced for either soft landing or recession. Nobody positioned for the muddy middle where things just... grind. No crisis, no rescue, just higher-for-longer rates eating into margins and consumer budgets.
This is where patience gets tested. No quick fixes, no obvious trades, just waiting for somethin...