The absence of any SARS-CoV-2 lineage meeting WHO or ECDC criteria for a variant of concern since earlier Omicron sublineages supports the market's strong trader consensus on "No." Ongoing genomic surveillance through mid-2026 shows continued circulation of strains such as XFG and NB.1.8.1, along with recent variants under monitoring like PQ.16.1.1 and BA.3.2, yet none have demonstrated the combination of increased transmissibility, severity, or immune escape needed for VOC designation. With public health priorities shifted and lower sequencing volumes, escalation remains unlikely in the remaining months of 2026. An unexpected highly mutated variant driving notable rises in hospitalizations or vaccine breakthrough could still prompt reclassification before year-end.