Good afternoon and welcome to Markets Desk, your midday read on what's moving money.
Stocks found their footing Thursday as bond yields pulled back from multi-decade highs, giving equity bulls room to breathe. The S&P five hundred edged up nearly a fifth of a percent, the Nasdaq one hundred added about a third, and the Dow closed essentially flat — a quiet session, but a constructive one given where rates have been.
That bond picture is worth watching closely. Jefferies strategist Christopher Wood is calling G-seven sovereign debt a structural bear market, a trend he traces back to March of twenty twenty. With U-S and other developed-market bonds deteriorating on a long arc, Wood is pointing investors toward alternatives — a signal that the old playbook of rotating into treasuries for safety may need a serious rethink.
Meanwhile, Goldman's Scott Rubner is making a bullish case for equities heading into year-end. His argument is straightforward — September delivered the reset that clears the path for a fourth-quarter rally. Rubner cites positioning, seasonality, and technical conditions as reasons for investors to add exposure now rather than wait for a cleaner entry that may never come.
That's the tape. Markets Desk, signing off the floor.
