Forward Synthesis // Rates & Prices Outlook

MULTI-HORIZON PROJECTIONS • COST OF CAPITAL • COMMODITY CURVES

Terminal Rate Cons.
4.25%

Global Asset Target Projections

Asset Class Spot (May 9) T+7 Days Next Quarter EOY 2026 5Y Terminal
S&P 500 7,398 7,450 7,200 Vol Shock 7,600 9,500 AI Prod.
Bitcoin (BTC) $80,346 $82,000 $95,000 $110,000 $250,000 Sov. Adop.
10Y US Treasury 4.364% 4.35% 4.20% 4.15% 4.50% Fiscal Deficit
US HY OAS 2.79% 2.85% 3.50% 4.00% Def. Cycle 3.20%
Brent Crude Oil $84.50 $86.00 $95.00 Geo-Risk $80.00 $110.00 Struct. Deficit
Gold (XAU) $2,350 $2,360 $2,450 $2,600 $3,500 De-dollarization
*Projections derived from Adam v26.0 Neuro-Symbolic Ensembles blending historical volatility, deep learning trend forecasting, and live fundamental constraints.

Yield Curve Dynamics (US Treasury)

Rate Sensitivity Matrix (SPX Multiple)

10Y Yield
3.50%
4.36% (Spot)
5.00%
Implied Fwd P/E
22.5x
20.8x
18.2x