Expect 100 BP of rate cuts in next year: JPMorgan's Santos

I look at the market and I look at investor sentiment. There's been a lot of this talk that people are too complacent. Nobody's really looking at the risk out there.What are you seeing. So I think policy's no longer the day to day driver like it was April-May when we were getting on an absolute basis, four or five percentage point moves in equity markets just on any kind of headline around, especially tariff policy. So I think we're in a phase much more where the day to day is back to being driven by earnin ...