Yardeni QuickTakes (Page 2)

US SECTORS CALL: Energy, Information Technology & Health Care

Sep 13, 2026 5 min read paid

Rising bond yields and oil prices weighed on stocks last week, though a mostly in-line CPI report on Friday sparked a rebound. The S&P 500 still fell 0.8%, with nine of the 11 sectors declining. Energy (OW) led, rising 2.0%, and it tops the sector derby at 44.5% ytd. Communication Services (MW) was the only other gainer, up 1.1%. Health Care (OW) fell

Ed Yardeni
Toby Hearst

GLOBAL MARKETS CALL: Will The Bull Market Survive Higher Oil Prices & Bond Yields?

Sep 13, 2026 5 min read paid

The price of Brent crude is back above $100 a barrel. Government bond yields are rising nearly everywhere, with the 10-year yields of Australia and the UK both above 5.00% and the US’s at 4.97%. Either development would normally be enough to break a global bull market in stocks. Neither has so far. That's because corporate earnings keep climbing. The Fed, the Bank of

Ed Yardeni
Toby Hearst

ECONOMIC WEEK AHEAD: September 14-18

Sep 13, 2026 4 min read

Global bond yields rose across the board last week (chart). The US 10-year Treasury bond yield climbed 19 basis points to 4.97%. The UK's 10-year gilt closed at 5.35%, near its highest level in decades. Even Japan's 10-year, at 2.99%, is near multi-year highs. The European Central Bank (ECB) delivered its third rate hike of the latest tightening cycle

Ed Yardeni
Toby Hearst

US MARKET CALL: Still Targeting 8400, But Raising Odds Of Bearish Outcome To 30%

Sep 12, 2026 5 min read

I. Performance The good news is that our recommendation to overweight the S&P 500 Energy sector is working well (chart). The bad news is that it is doing so because the war in the Middle East has re-escalated. Saudi Arabia has shut down its East-West pipeline as a precaution after a drone attack that originated in Iraq. The pipeline had been moving 4 million to 5

Ed Yardeni
Toby Hearst

Bond Vigilantes Dare Bessent To Use His Bazooka

Sep 10, 2026 5 min read paid

On September 1, we warned you that September is back. We wrote, "Everyone in the stock market knows that September is the cruelest month for stocks. But when it is a bad month, it tends to create buying opportunities for a year-end rally that often starts in October." So far, the month has been crueler to bond investors than to stock investors. The 10-year US Treasury

Ed Yardeni
Elias Griepentrog

Bessent Tells Bond Vigilantes: "I Am The House"

Sep 9, 2026 4 min read paid

I. Bessent Intervening On August 19, Treasury Secretary Scott Bessent announced an expansion of the Treasury's buyback program in the long end of the yield curve. Today, the Treasury unveiled a $6 billion buyback operation in the 10- to 20-year sector, with Bessent stating that the goal is to ensure "that there is not a bad, big adverse outcome" in the Treasury market. However, the

Ed Yardeni
Elias Griepentrog

DEEP DIVE: CPI Versus PCED Crib Notes

Sep 8, 2026 5 min read paid

The outcome of the September 16-17 FOMC meeting will likely hinge on this week's August CPI and PPI reports. Fed Governor Christopher Waller recently noted that while inflation remains "meaningfully above" the Fed's 2.0% target, the three-month annualized core PCED inflation rate fell from 4.76% in February to 3.05% in July (chart). If that trend continues, he said he

Ed Yardeni
Elias Griepentrog

ECONOMIC WEEK AHEAD: September 7-11

Sep 7, 2026 3 min read

August payroll employment jumped 162,000, a sharp reversal from July's decline, while the August unemployment rate held steady at 4.1%. Those numbers reinforce our view that the labor market remains solid, so the Fed has little reason to delay a rate hike. The federal funds futures market now prices a 59% chance of a hike at the September 15-16 FOMC meeting, up from roughly 50/

Ed Yardeni
Toby Hearst

US SECTORS CALL: Financials, Real Estate & Utilities

Sep 7, 2026 4 min read paid

Energy (OW) led the S&P 500 sectors again last week, up 2.3% as the price of Brent crude rose back above $95 a barrel. The sector is now up 41.6% ytd, the best of all sectors (chart). Information Technology (MW) rose 1.1% wtd, with Dell stealing the headlines. The performances of the rate-sensitive sectors were mixed: Utilities (OW) rose 0.7%, while Real Estate

Ed Yardeni
Toby Hearst

US MARKET CALL: More Fabulous Earnings Momentum

Sep 6, 2026 4 min read paid

The Fed might or might not raise the federal funds rate this month. The war in the Middle East may or may not be over (and isn't even a war anymore, says VP JD Vance). A debt crisis may be imminent, or not. The Republicans will probably lose the House in the midterms, or maybe not. Putin may or may not invade NATO. Trump might embargo US trade

Ed Yardeni
Toby Hearst

GLOBAL MARKETS CALL: Still A Worldwide Bull Market

Sep 6, 2026 4 min read

Stock prices continue to rise worldwide. A run of central bank meetings over the coming weeks will test whether equity composure holds. Bond yields are also rising worldwide. The question is whether that reflects better-than-expected economic growth, higher-than-expected inflation, and/or looming fiscal debt crises. Equities are voting for growth. We are too. Here's more: I. Global Stock Markets The US-to-Developed World

Ed Yardeni
Toby Hearst

A Goldilocks Jobs Report Just In Time For Labor Day

Sep 4, 2026 4 min read

The August US jobs report is among the best we have seen in some time and provided an uplifting backdrop for the Labor Day weekend. Labor demand is solid and becoming more broad-based, unemployment remains low, and labor supply improved in August. At the same time, moderate wage growth and solid productivity gains show that inflationary pressures are subdued in the labor market. In other words, the report reinforces

Ed Yardeni
Elias Griepentrog

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