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Stocks and Bonds believe in different realities.
Blain’s Morning Porridge October 7th 2026
“In stocks there are hopes and dreams. In bonds there is brutal truth.”
The equity rally to yet new all-time-highs feels unconvincing. Expectations of inflationary pressures easing and a return to upside growth are not shared by bond markets which are concerned at signals of higher borrowing costs as governments fail to rein in fiscal programmes. A fall in oil prices will help but won’t solve anything.
Key Takeaways:
Booming US Stocks reflect optimism about corporate earnings and lower interest rates. Bond markets are far more concerned with…
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