Person · Capital Wars

Michael Howell

Michael Howell appears in Part 7, Part 10 of The Buildout. Part 7: The Fed Hiked. The Long End Still Climbed.; Part 10: The Bubble Is in the Denominator. Argued in Part 7 (Growth: yields are catching up), Part 10 (A growth signal near a peak).

In 2 parts of The Buildout: Part 10, Part 07 · Updated Oct 8, 2026

What Michael Howell argued

On the record, by story.

Paraphrased and attributed, with the date and a link where one exists. DeepStack keeps no score of who was right; the dated tests do that work in the open.

  1. Part 10 · A growth signal near a peakSep 25, 2026

    The creator underestimated the pace of earnings growth in 2026: valuation multiples compressed as expected, but corporate earnings expanded far more rapidly than anticipated, fuelled by AI investment, which is why equities, notably technology…

    The Bubble Is in the Denominator Who is on each side Source

  2. Part 10 · A growth signal near a peakSep 11, 2026

    Higher bond yields reflect an economy growing faster than official policy settings can comfortably accommodate and a policy framework increasingly dependent upon maintaining abundant liquidity.

    The Bubble Is in the Denominator Who is on each side Source

  3. Part 07 · Growth: yields are catching upAug 23, 2026

    The convenience yield of Treasuries measured against similar-duration AAA domestic bonds appears stronger rather than weaker, and conventional term premia have been broadly stable over the past year, so these indicators do not support the argument…

    The Fed Hiked. The Long End Still Climbed. Who is on each side Source

  4. Part 07 · Growth: yields are catching upAug 23, 2026

    Suppressing the long end of the yield curve is like holding a beachball underwater: it may work temporarily but the outcome is unstable, because holding long yields down flattens the term structure via arbitrage and shifts pressure to the front…

    The Fed Hiked. The Long End Still Climbed. Who is on each side Source

In The Buildout

Where Michael Howell appears.

One line per story, from the story itself.

  1. Part 10A cheap top

    Michael Howell of Capital Wars says he underestimated AI spending’s lift to earnings; David George at a16z credits technology with about 76% of S&P 500 profit growth through late August.

    The Bubble Is in the Denominator

  4. Part 07Three prices for 5%

    Michael Howell estimates nominal output is expanding at roughly 7% to 8% and says a 10-year yield near 5% remains about two percentage points too low.

    The Fed Hiked. The Long End Still Climbed.

Across the DeepStack reading

How often it comes up.

1434 claims and 136 texts mention Michael Howell, as of Oct 8, 2026. A count of attention, not a judgment.

Analysis and opinion, not investment advice. What a person argued is reported, not rated; DeepStack shows no score, ranking or accuracy for anyone.