[MRA Strategist Says Fed Rate Hikes Could Trigger a 10% Pullback in S&P 500 Index] Jin10 News, September 15 – Dean Curnutt, CEO of MacroRiskAdvisors (MRA), stated that the Federal Reserve's potential initiation of a rate hike cycle could put pressure on the S&P 500 Index, with U.S. stocks expected to see an 8% to 10% pullback. Curnutt noted that rising energy costs and recent inflation data have driven the yield on the U.S. 10-year Treasury bond above 5% for the first time since 2023, significantly increasing market bets on Fed rate hikes. He believes that rate hikes will compress profit margins for companies unable to pass on costs, while also delivering a shock to a market currently unprepared for volatility. He remarked that the current market environment is similar to 2018, when the S&P 500 Index peaked in September and subsequently fell by approximately 10% cumulatively in October and November, with further weakness in December. Curnutt predicts that if the Fed continues to raise rates, the market could experience a second round of declines by the end of the year.