This rally has been led by fundamentals. This rally has been led by earnings. Recovering. This rally is going to continue to be led by that. ... We finally moved our targets to our bull case, which originally published as 7000 ... I think actually 7000 by year end could be too low.

Brian Belski discussed the possibility that if the Fed cuts rates too fast, it could lead to inflation pressure, implying cautiousness on yields. He also mentioned the yield curve is expected to steepen, which relates to yields but did not explicitly forecast a direction.