Bond Bull, Un-Freezing Housing, and Under-the-Radar AI Names 10/7/26

Rising real rates (10-year near 5.3%) now compensate bond holders for the first time in seven years, even as AI-stock concentration risk grows.

• Bond bull emerges: Ariel's Charlie Bobrinskoy says for the first time in seven years bond investors are being paid a real rate of return, with 10-year yields near 5.3%, though he warns real rates (not nominal) rising further could pressure stock multiples.
• AI bubble warnings: Bobrinskoy compares AI stocks to 1870s railroad and 2000 internet manias and says he'd avoid a pure AI portfolio; Stifel's Ron Kruszewski disagrees, noting Mag-7 earnings growth outpaces borrowing costs.

Themes, sentiment and reasons are AI-written paraphrases, checked so they never quote an episode. They may contain errors. Not investment advice. Episodes remain the property of their creators.