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Ed Clissold
Ned Davis Research
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Ed Clissold (Ned Davis Research) tells CNBC that with the Fed less in play, the long end matters more, and a 10-year yield near 5% would be a real challenge for equities.
I think it does put the long end of the curve more in play. If we get about 5% of the 10-year, I think that could be a real challenge for the equity markets.
S&P 500 since this was said: ▼ -0.9% · 7,786 → 7,719 · as of 2026-09-04
Ed Clissold (Ned Davis Research) tells CNBC the long-term AI play has further to run but capex-cost concerns could produce a broad equity-market pullback between now and the end of the third quarter of 2026.
you could see some pullback, which is why we think between now and the end of the third quarter, there could be a pullback in the broader equity market
S&P 500 since this was said: ▼ -0.9% · 7,786 → 7,719 · as of 2026-09-04
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