Treasury yield jump is not 'death to equities,' BofA's Savita Subramanian says
CNBC 2023-09-06 00:11:32 • 2 mins
The latest jump in Treasury yields is not "death to equities," BofA Securities' Savita Subramanian told CNBC's "Fast Money" on Tuesday.
In fact, Subramanian sees the bond move as a positive signal rather than an ominous sign for the economy.
"Companies are refocusing on efficiency and productivity rather than juicing up earnings through leverage buybacks and cheap financing costs," the firm's head of equity and quantitative strategy said. "Companies are finally focused on efficiency and they have new tools. They have AI [artificial intelligence]. They have automation."
Subramanian describes herself as having the most positive view on stocks since the 2008 financial crisis, saying that productivity will drive the next leg of the bull market.
