• Homrich & Berg flagged a new stocks-bonds regime as the 10-year Treasury yield rose above 5% for the first time since late 2007.
• Equity valuations face ongoing pressure as yields reprice; the S&P 500 forward P/E fell to just over 19x from 23.2x.
• Trailing P/E slipped to 26.2x from 28.8x; the firm’s fair-value model now puts equities roughly fairly valued.
• Rising yields are no longer a reliable directional signal for stocks; the key swing factor is earnings growth, not rates.
• AI-related spending, commodity prices, federal debt supply, and capital spending were cited as key forces keeping upward pressure on yields.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Homrich & Berg Inc published the original content used to generate this news brief on September 15, 2026, and is solely responsible for the information contained therein.