the rates may be steady, but the FED will start talking the economy down so they can get the easing cycle underway. So bonds are in a win win situation.
equities might have a reflexive rally, but should sell off secondary to worries about the economy and FED language. A test close to 1460 on spooz is possible before the actual easing starts.
As the FED finishes the easing cycle, other global economies may follow suit, will instigate a dollar rally, which should coincide with the next presidential cycle.