AI, rates and global growth shape the market outlook 10/6/26

Treasury yields near 2002 highs aren't deterring record AI-driven equity gains, as strategists argue exponential AI growth justifies elevated rates.

• Yields hit multi-decade highs: 10-year Treasury at 5.27%, 30-year at 5.63%, 2-year at 4.81% — all near 2002 levels — while Nasdaq closed at a record high led by Mag 7 names outpacing the S&P 500 year to date.
• Jordi Visser's exponential thesis: 22V's AI macro strategist argues yields reflect 6.3% nominal GDP growth (highest since 2005-06) and says investors fixated on rates/oil are 'missing a lot of upside' from AI's exponential progress.

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