Quantitative Tightening Is More Impactful on Equities Than Bonds

"Quantitative tightening is a little bit the opposite of quantitative easing, in fact, almost exact opposite," he says. "It shoots out and where it really exposes itself at the riskiest end of the spectrum." Stocks can still lag from here, but they won't be able to keep up with bond yields as long as we're doing what we've done so far this year., Peter Lynch adds. 'I think that's going to be a headwind for M&A next year'