Ongoing containment of the 2026 Bundibugyo Ebola outbreak in the DRC and Uganda, declared a PHEIC in May, has reinforced trader confidence in the low near-term pandemic risk. Official assessments from WHO, Africa CDC, and ECDC rate cross-border spread potential as limited, with direct-contact transmission and aggressive isolation measures curbing wider dissemination despite the strain’s record scale. Concurrently, H5N1 avian influenza shows sporadic human cases without sustained person-to-person transmission, while post-COVID population immunity and surveillance have lowered emergence probabilities for related coronaviruses. Mpox and other monitored threats remain regionally contained with moderate-to-low global risk per WHO updates. These factors, alongside enhanced international preparedness, underpin the 82% market-implied probability that no new pandemic will emerge before 2028.