Monday - October 19, 2026

Today's Post - bahnsen.co/4yXvACK

David Bahnsen reviews a volatile news weekend and announces The Bahnsen Group’s new Santa Barbara office. Markets were mixed (Dow flat, S&P up 0.4%, Nasdaq up ~1%) amid unusual breadth and rotation dynamics, while AI-related “pick-and-shovel” names faced pressure tied to funding concerns and slowing expectations for the rate of AI capex growth. The 10-year yield rose to 5.14% and sector performance diverged sharply (consumer discretionary led; utilities lagged). He notes Goldman Sachs earning more from lending against equities than equity trading, signaling rising leverage and potential volatility, and highlights a NASDAQ/2000-style chart comparison. He discusses violent unrest in France, a 50/50 Senate outlook and likely Democratic House control, key economic data (US industrial production +0.7%, China Q3 GDP 4.5%), surging US mortgage payments, falling homebuilder sentiment, and Fed signals favoring no October hike but likely December. Earnings season accelerates, with midstream energy updates and a forthcoming Friday episode on range-bound markets.

00:00 Welcome and Updates

01:25 Market Close Recap

01:59 Breadth Rotation and AI

04:36 Yields Sectors and Leverage

06:30 Rhyming Market Charts

07:15 France Unrest and Elections

09:23 Economic Data Roundup

10:05 Housing Affordability Squeeze

10:56 Fed Outlook and Oil

12:21 Earnings Season and Wrap

Links mentioned in this episode:
DividendCafe.com (dividendcafe.com)

TheBahnsenGroup.com (thebahnsengroup.com)