Thoughtful Money with Adam Taggart · Thursday, September 10, 2026
Michael Lebowitz suggests that the 10-year bond yield approaching 5% could be a significant turning point for the economy, stock market, and the Treasury. He notes that while short-term drivers are often narrative-based, fundamentals historically dictate bond yields.
“Bond yields can go higher from here. I do think that ten-year bond yields at 5% is potentially a line in the sand for both the economy, the stock market, and definitely the treasury and possibly the Fed. We're pretty close to 5% at this point. In the short run, that may be our maximum upside in yield.”
“And I think if the economy falters, the stock market falters, that could induce rates to start heading down. Yields to start heading lower.”