Rick Rieder highlights a stark divergence: equities benefit from buybacks and scarce supply, while bonds face massive Treasury supply. He sees strong nominal GDP growth (6%) and pricing power supporting equities, but warns geopolitical risks are rising. He argues cash flow growth makes a significant default cycle unlikely.
implicit
explicit
RUT
Oil
Metals
USD
BlackRock
9.5
Asset Manager $10500.00B
Rick Rieder 9.5
Asset Manager $10500.00B
Rick Rieder 9.5
5/6/2026 7:59:28 AM
ndx
Equities have a whole lot more upside than interest rates do today.
| 5/5/2026 3:09:34 PM | medium term up | 20 days later | +4.90% | +4.90% |
| 4/16/2026 7:06:29 AM | medium term up | 20 days later | +7.09% | +7.09% |
| 1/6/2026 1:09:12 PM | medium term up | 20 days later | +1.11% | +1.11% |
| 10/28/2025 11:22:45 AM | medium term up | 20 days later | -6.19% | -6.19% |
| 10/20/2025 11:50:40 PM | short term up | 6 days later | +2.76% | +2.76% |
| 10/14/2025 5:43:21 PM | long term up | 61 days later | +1.30% | +1.30% |
| 9/29/2025 1:46:24 PM | medium term up | 20 days later | +1.87% | +1.87% |
| 9/9/2025 8:32:34 PM | short term up | 5 days later | +1.86% | +1.86% |
| 8/12/2025 10:38:50 PM | short term up | 5 days later | -0.57% | -0.57% |
yields
Strong nominal GDP growth and pricing power are inflationary for bonds, implying upward pressure on yields.
