Current global SARS-CoV-2 surveillance from WHO and national agencies shows persistently low circulation, with test positivity rates near 1-4% and sharply reduced case and death counts compared to prior years. The virus remains in an endemic phase dominated by Omicron descendants such as XFG and NB.1.8.1, with no evidence of novel zoonotic spillovers or variants capable of pandemic-level immune escape and virulence. Widespread population immunity, updated vaccines, and antiviral options further limit escalation risk. Trader consensus at 95.7% implied probability for no new pandemic reflects this stable epidemiological picture, though realistic shifts could arise from undetected animal-reservoir evolution or a high-transmissibility variant emerging before year-end surveillance updates.