What finance podcasts said about markets on 9 October 2026

The guest argued the market is undergoing a stealth correction, with deteriorating internals and falling P/E ratios, as rising bond yields increase the cost of capital. Jurrien Timmer (Director of Global Macro at Fidelity Investments) made the case on The Compound and Friends’s “This Is Where the Rubber Meets the Road, with Jurrien Timmer”, aired 9 October 2026. The mechanism described is a present-value calculation where higher rates pressure valuations, similar to 2022 and 1994, but the damage is masked by strong earnings growth and extreme market concentration.