The Dividend Cafe - Tuesday - October 6, 2026

Episode Date: October 6, 2026

David Bahnsen delivers the Daily Recap from New York City while Brian Szytel meets with a manager, noting that he, Brian, and Kenny Molina are in their annual week of meetings with many money managers, having completed 16 meetings in two days and not yet halfway through. He says early takeaways include the biggest area of disagreement among managers being differing views on AI, while the common concern is the impact of higher bond yields across asset classes, with the 10-year yield (5.28% after falling three basis points) highlighted as especially important. Markets rose: Dow +250, S&P +45, Nasdaq +122; the bond market was up as yields fell. Utilities led sectors up over 3%, while healthcare was slightly down and the only sector in red. A new Ask TBG question is posted at dividendcafe.com, with Brian hosting podcasts Wednesday/Thursday and David returning Friday. 00:00 Welcome and Setup 00:09 NYC Manager Meetings 00:56 Key Themes AI and Yields 01:31 Market Snapshot 01:44 Rates and Ten Year Focus 02:04 Sector Performance 02:22 Ask TBG and Upcoming Shows 02:53 Wrap Up and Contact Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Welcome to the Dividing Cafe, weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. Hello and welcome to the daily recap of the Dividendon Cafe. This is David Bonson. If you can't recognize my voice, Brian Saitel is in the midst of a meeting with a manager right now. And it's been a very busy couple of days here in New York City. If you haven't heard Brian and myself and Kenny Molina are all together, this week meeting with a plethora of our money managers in our annual affair. And I guess what I want to say as part of the daily recap is that I would really love to start sharing some of the things

on our mind already after what has been, let's see, 10, 13, 14, 15, 16 meetings in two days. And we're not halfway done yet in terms of the week. But I'm going to do everything I can to hold it in and wait until we get through the end of the week and our full investment committee has had the opportunity to debrief and download and all those things. But the early indicators are that the biggest source of conflict, if you will, amongst various managers is varying opinions on AI and that the kind of common ground and universal issue is most certainly on the impact of higher bond yields. And that impact has felt differently across different asset classes, but I don't know that we've had a meeting yet where that didn't receive a significant amount of attention. And that's across, like I said,

a very wide array of asset classes. So we're going to keep our heads down, keep doing what we're doing. In the meantime, markets were up today. The Dow was up 250 points, half a percent. S&P was up 45 points, a little over half a percent. NASDAQ was up 122 points, a little below half a percent. The bond market it was even up today. The 10-year was down a whopping three basis points, so closed at 5.28%. That may be the single most important price in the world right now, and when it comes to money, that's because the price of money is important. In terms of sectors today, the top performing was utilities up over 3%. And of course, it's been a lagging sector as of late. Healthcare was basically flat down 16 basis points. It was the only sector today in red ink and health care has been on quite a tear.

In terms of the Ask TBG, there is a new question at the homepage, dividentcafe.com. I'll let you go there to check that out. And Brian will bring you the normal podcast Wednesday and Thursday in the aftermath of our various meetings. And I'm looking forward to being with you myself on Friday, as I always am in the Dividend Cafe, doing a more extensive treatment of where we stand, what is causing and what is likely to happen next around the higher bond yields you see, particularly at the long end of the curve. With that said, thanks for listening to the Daily Recap, Dividendon Cafe. Reach out.

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