Market is misreading the macro picture - with higher yields being priced in. Nicolò Bocchin of Azimut thinks that investors are not pricing in a return a more normal market, with lower growth and lower tariffs. Bocchin says once energy prices and tariff concerns are resolved, we will likely be in a deflationary environment. He thinks Fed Chair Kevin Warsh should address the liquidity in the market and that keeping rates steady was the correct move. In the credit market, Bocchin sees opportunities in the short and long end of the curve