Bloomberg Surveillance · Tuesday, July 14, 2026
The current capital markets boom is expected to continue as long as bond yields remain below a certain threshold, which is significantly higher than current levels. Historically, it takes a substantial rise in yields to draw money away from equities and end such market conditions.
“So, Lisa, our kind of big view this year is that there is some interest rate out there where bonds simply become more competitive to stocks. And I just don't think we have found that interest rate yet.”
“So to answer your question, when does kind of the capital markets boom end, I think it's when we find a bond yield that is meaningfully higher than where yields are today.”
“So it typically takes a yield so much higher than the consensus believes to truly be competitive.”