ZTRADER WEEKLY MACRO ｜THE MARKET IS NOT PRICING A RECESSION.

IT IS PRICING A HIGHER COST OF CAPITAL.

ZTRADER WEEKLY MACRO · ISSUE

JUNE 2026

THE MARKET IS NOT PRICING A RECESSION.

IT IS PRICING A HIGHER COST OF CAPITAL.

Most investors are still trying to fit the current market into a familiar box.

Is this a geopolitical shock? An inflation scare? An AI bubble? A bond market problem?

The answer is yes. And that is exactly why so many people are struggling to u…