How do you manage risk when no one agrees on what the risks will be? Markets are rising right now, but today’s higher interest rates threaten a credit crunch, among other things, which could dampen the positive sentiment. The inflation numbers from May, just 4% annualized, were better than expected, which could justify the Fed dialing back its monetary tightening – but we don’t know if that will happen in time. In short, optimistic sentiment collides with unpredictable conditions. The uncertain