Global Bond Selloff Halts Stock Rally | Open Interest 5/15/2026

Watch on YouTube ↗  |  May 15, 2026 at 16:43  |  1:29:41  |  Bloomberg Markets
Speakers
Nancy Tengler — CEO & CIO, Laffer Tengler Investments
Sarah Ketterer — CEO and Fundamental Portfolio Manager, Causeway Capital Management
Matt Miller — Anchor, Bloomberg

Summary

Global bond yields surge on inflation fears, halting the AI-driven stock rally. The Fed prepares for a leadership change as oil prices remain elevated. Investors discuss rotation to value stocks and specific opportunities in airlines, cruise lines, defense, and software.

  • Global bond selloff deepens as inflation fears push long-term yields higher across the U.S., UK, and Japan.
  • The AI-driven equity rally pauses, with semiconductor stocks like Nvidia and Intel pulling back from recent highs.
  • President Trump's Beijing summit yields vague trade deals, including a smaller-than-expected Boeing order.
  • Cerebras shares fall after a 68% IPO pop, while SambaNova CEO discusses competition and capital needs.
  • Nancy Tengler recommends buying Nvidia, Micron, and AMD on dips while trimming Broadcom and avoiding Intel.
  • Sarah Ketterer highlights value opportunities in Alaska Air, Carnival, Booz Allen Hamilton, and SAP.
  • Fed Chair transition from Powell to Warsh begins amid market pricing of a potential rate hike.
  • Oil prices stay above $100, adding to inflation concerns and tightening financial conditions.
Trade Ideas
Nancy Tengler CEO & CIO, Laffer Tengler Investments 28:13
Buy Nvidia on dips for AI growth
Nancy Tengler added to Nvidia after the DeepSeek selloff, buying at around $108 per share, and continues to add to the name on dips. She believes Nvidia remains a core AI beneficiary with strong long-term demand, and the recent pullback from euphoric levels creates a buying opportunity.
NVDA HIGH
Nancy Tengler CEO & CIO, Laffer Tengler Investments 29:07
Avoid Intel due to competitive lag
Nancy Tengler has stayed out of Intel, expressing doubt about its ability to catch up in technology and foundry production. She sees no clear catalyst and prefers to avoid the name.
INTC MED
Nancy Tengler CEO & CIO, Laffer Tengler Investments 29:19
Micron benefits from AI memory demand
Nancy Tengler has been adding to Micron Technology over the last couple of months, viewing it as a cyclical semiconductor name that benefits from AI memory demand and trades at a low forward multiple despite strong earnings.
MU MED
Nancy Tengler CEO & CIO, Laffer Tengler Investments 29:19
Add AMD for AI chip opportunity
Nancy Tengler has been adding to AMD over the last couple of months, seeing it as an AI chip play that has appreciated dramatically. She plans to trim it after further appreciation but currently holds a long position.
AMD MED
Nancy Tengler CEO & CIO, Laffer Tengler Investments 29:36
Trim Broadcom after overweight position
Nancy Tengler trimmed her position in Broadcom because it became grossly overweight in her portfolio after its huge run-up. She advises taking advantage of such run-ups to reduce exposure, implying the stock is not attractive at current levels for new buyers.
AVGO MED
Sarah Ketterer CEO and Fundamental Portfolio Manager, Causeway Capital Management 49:28
Alaska Air is a quality airline play
Sarah Ketterer recommends Alaska Air as one of the best-run U.S. airlines, trading at a low multiple and poised to recover as travel demand remains strong. She sees it as a value shelter in a concentrated market.
ALK MED
Sarah Ketterer CEO and Fundamental Portfolio Manager, Causeway Capital Management 49:28
Carnival benefits from cruise demand
Sarah Ketterer recommends Carnival as an incredible business where people continue to cruise even with higher prices. She sees it as a value opportunity with low multiples and resilient demand.
CCL MED
Sarah Ketterer CEO and Fundamental Portfolio Manager, Causeway Capital Management 49:45
Booz Allen benefits from defense spending
Sarah Ketterer recommends Booz Allen Hamilton as a decades-old U.S. defense contractor benefiting from sustained military and intelligence spending. It trades at a low multiple and is likely to be a big performer as growth returns.
BAH MED
Sarah Ketterer CEO and Fundamental Portfolio Manager, Causeway Capital Management 50:52
SAP is an AI value opportunity
Sarah Ketterer highlights SAP as a 'victim' of the SaaS selloff but notes it is deeply embedded in global enterprises, moving rapidly into AI with its own agentic layer. She considers it a compelling value opportunity in international equities.
SAP MED
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This Bloomberg Markets video, published May 15, 2026, features Nancy Tengler, Sarah Ketterer discussing NVDA, INTC, MU, AMD, AVGO, ALK, CCL, BAH, SAP. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Nancy Tengler, Sarah Ketterer  · Tickers: NVDA, INTC, MU, AMD, AVGO, ALK, CCL, BAH, SAP