Doll’s Deliberations

From the mind of industry veteran Bob Doll comes Doll's Deliberations®, a weekly investment commentary.

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Commentary

AI Takes a Breather

Doll’s Deliberations

AI Takes a Breather

The cracks in the AI boom continue to accumulate. Funding pressures, capex concerns, and growing questions about future returns are testing one of the market's most important investment themes.

10/26/2026

Finally, a Bond Bear Market Pause

Doll’s Deliberations

Finally, a Bond Bear Market Pause

Bond markets have finally begun to stabilize after becoming oversold, with yields easing as cracks emerge in the AI trade. This reprieve could support equity markets and the real economy – if it lasts.

10/19/2026

Sticky Inflation Will Eventually Cause More Problems for Markets

Doll’s Deliberations

Sticky Inflation Will Eventually Cause More Problems for Markets

Global growth has been persistently better than expected, pushing bond yields higher. But investors remain complacent about inflation. Yields may consolidate near term, but the risk remains that something eventually breaks.

10/12/2026

Quarterly Investment Commentary 4Q26

Doll’s Deliberations

Quarterly Investment Commentary 4Q26

Following a whiplash quarter of market volatility and fluctuating bond yields, investors are navigating a vastly different reality from the low-rate regime of the past decade. In his 4Q commentary, Bob offers macroeconomic and investing insights, exploring where the markets are heading and how to position portfolios for the quarter ahead.

10/05/2026

Bonds Under Pressure

Doll’s Deliberations

Bonds Under Pressure

Decisive breakouts in the U.S. 10-year Treasury yield have been the catalyst for equity setbacks this decade. Yields are currently in the process of breaking out; should investors de-risk if yields do not soon pause?

09/28/2026

Comments on the Bond Market Riot

Market Insights, Doll’s Deliberations

Comments on the Bond Market Riot

Treasury yields are rising as economic growth firms and inflation remains elevated, keeping pressure on interest rates. Bob Doll and Victoria Fernandez take a look at what matters in the bond uproar.

09/28/2026

Bonds Under Pressure

Doll’s Deliberations

Bonds Under Pressure

U.S. Treasury yields surged above 5% as stronger economic growth, persistent inflation, rising government deficits, and renewed corporate borrowing pushed bond yields higher. While higher yields are creating risks for equities, credit markets remain relatively strong.

09/28/2026

Will Something Break? Bond Yields, Inflation, & Market Risk

Doll’s Deliberations

Will Something Break? Bond Yields, Inflation, & Market Risk

Bond markets have weakened steadily in recent months. Firming global growth, accommodative monetary conditions, expanding budget deficits, a surge in AI-related corporate borrowing, and sticky inflation have all pushed yields higher.

09/21/2026

Bond Yield Increases Are Finally Impacting Equities

Doll’s Deliberations

Bond Yield Increases Are Finally Impacting Equities

Stocks pulled back last week as oil approached $100 per barrel, inflation remained elevated, and bond yields continued to rise. Investors are grappling with an escalation of war on two fronts. Read Bob’s take on what matters:

09/14/2026

Bull Stocks, Bear Bonds: How Long Can It Last?

Doll’s Deliberations

Bull Stocks, Bear Bonds: How Long Can It Last?

Rising global bond yields are threatening to derail the risk-on rally. Renewed military action in the Middle East is adding to the near-term upside risk for oil prices, inflation expectations, and bond yields. How much longer can equities keep climbing while bonds keep sliding?

09/08/2026