Wall Street's 'most exciting era'? The investment committee weighs in

Watch on YouTube ↗  |  August 20, 2026 at 19:10  |  12:20  |  CNBC
Speakers
Rick Rieder — CIO of Global Fixed Income at BlackRock
Rob
Josh Brown — CEO, Ritholtz Wealth Management
Jim Lebenthal — Partner, Cetera Investment Management
Scott Wapner — Host, CNBC

Summary

The Investment Committee discusses the current market environment, debating whether it is one of the most exciting eras for Wall Street. The panel weighs the bullish outlook on equities driven by AI and healthcare against the challenges posed by rising bond yields and global fiscal deficits.

  • Rick Rieder views the current market as highly exciting, with potential for another 5-10% gain in equities.
  • Healthcare and AI are highlighted as key sectors offering daily investment opportunities.
  • Rising bond yields are attributed to global fiscal deficits and heavy Treasury issuance.
  • Panelists agree that a 5% yield on the 10-year Treasury would be a strong buying opportunity.
  • Despite attractive bond yields, equities remain favored by some due to strong earnings and economic growth.
Ideas
Rick Rieder CIO of Global Fixed Income at BlackRock 0:30
Healthcare and AI offer exciting market opportunities.
The current market environment is exceptionally target-rich and exciting, with strong opportunities in healthcare, specifically citing Moderna, as well as AI beneficiaries, which could drive the broader market up another 5 to 10% this year.
SPY MRNA XLV AI HIGH
Rob 8:57
Buy the 10-year Treasury at 5% yield.
The starting yield on a Treasury is a highly reliable predictor of total return if held to maturity, so buying the 10-year Treasury at a 5% yield locks in a nearly guaranteed 5% return, offering certainty that equities cannot provide.
TLT HIGH
Jim Lebenthal Partner, Cetera Investment Management 12:04
Equities are preferable to 5% bond yields.
Although 5% yields on 10-year Treasuries or 5-year corporate bonds offer portfolio stability, equities are more attractive because a 19x P/E multiple provides a corresponding 5% earnings yield combined with the upside of strong economic and profit growth.
Equities HIGH
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This CNBC video, published August 20, 2026, features Rick Rieder, Rob, Jim Lebenthal discussing SPY, MRNA, XLV, AI, TLT, Equities. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Rick Rieder, Rob, Jim Lebenthal  · Tickers: SPY, MRNA, XLV, AI, TLT, Equities