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The Big Squeeze: High Bond Yields Becoming A Problem For Stocks | Jan van Eck Analytics Table
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WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com Rising bond yields are starting to squeeze capital out of stocks, notes Jan van Eck, CEO of the massive ETF company VanEck. And should they go higher, the squeeze will get stronger. Jan returns to present his Q4 macro & market outlook -- we discuss the implications of this "squeeze", as well as the public *and* private side of the AI boom, India, gold, Bitcoin and more. For a chart-rich discussion on all these topics, watch this video. #bondyields #aistocks #commodities 0:00 – VanEck’s 10-year macro framework (fiscal vs. monetary policy) 5:30 – Why the AI mega-trend is still intact 7:00 – Opportunity cost of sitting out tech / the S&P is already tech-heavy 9:00 – Moving from pure supply constraints to modeling AI demand 11:00 – Token usage curves and inference becoming the bigger story 13:30 – Holding training flat is a conservative assumption 15:00 – Price discipline inside the AI trade (semis, power, CoreWeave) 18:00 – Software & consulting disruption (Accenture example) + need to own multiple AI plays 19:30 – Christian joins: private-market view of the AI build-out 21:00 – Open vs. closed models — usage is shifting, revenue is not 23:30 – Why enterprises still pay up for frontier models 25:30 – Has the open-model lag been shrinking? 27:00 – “Real estate” of the corporate desktop and switching costs 29:00 – Public vs. private markets — companies staying private much longer 31:00 – The TVPI glut and low distributions (DPI) 33:30 – Power-law reality in venture: most returns from a tiny number of managers 36:00 – Private AI still booming, but valuations are stretched 38:30 – Earnings quality concerns (circular financing, etc.) 41:00 – Nvidia as the heart of the AI hardware stack vs. memory chips 44:30 – Private credit trade update and redemption pressure 48:30 – Why higher bond yields are about growth, not inflation or crisis 51:30 – Dollar strength and putting the rate move in context 56:30 – Fiscal deficit deterioration and global bond competition (Japan, China gold buying) 1:01:30 – Gold miners & energy equities: better balance sheets + shareholder yield 1:07:30 – Why real assets are still under-owned 1:10:30 – Gold long-term view + Bitcoin update 1:12:30 – India: multiple headwinds but approaching better valuations 1:17:30 – Portfolio positioning recap (overweight tech & real assets, underweight bonds) 1:19:30 – Are higher rates setting up a “rally to sell” in bonds? _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter. We produce educational content geared for the individual investor. It’s important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such. We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer’s unique goals, needs & risk tolerance. All the details on Thoughtful Money's relationship with the financial advisors it endorses, many of whom regularly appear on this program, can be found in the following documents. We highly recommend you review these documents as they cover the terms that will apply should you choose to work with one of these firms at any time after watching this video. Thoughtful Money Disclosure Document: https://thoughtfulmoney.com/disclosure Thoughtful Money Agreement: https://thoughtfulmoney.com/agreement IMPORTANT NOTE: There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods. A security’s or a firm’s past investment performance is not a guarantee or predictor of future investment performance. Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC. Copyright © 2026 Thoughtful Money LLC. All rights reserved.
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