Wolfe Research warns global central banks may diverge from Fed, with BOJ as key variable after a 6‑3 rate‑hold vote.
Analyst Chris Senyek notes US equities ignore high oil prices, while long‑term yields and futures align with crude movements.
Wolfe cites US energy independence and higher import‑dependent Europe/Asia as drivers of divergent policy paths and tighter global stance.
Potential BOJ rate hikes could sharply appreciate the yen, risking a carry‑trade unwind and threatening the current market rally.