Sep 10, 2026 · 36 min
Rising Treasury yields reshape Cramer’s stock picks
Mad Money w/ Jim Cramer 9/10/26
The episode links higher long-term borrowing costs to weaker stocks and housing affordability, then tests defensive, growth, and speculative investments against valuation and fundamentals.
- 1Rising 30-year Treasury yields pressured stocks while making housing less affordable.
- 2Cramer contrasts Arista’s competitive strength with Lululemon’s weakening growth and execution problems.
- 3Seneca Foods offers a defensive diversification case as Walmart, SoFi, and speculative stocks face valuation questions.
Don't miss
Cramer connects the day’s market decline and worsening housing affordability to the power of the 30-year Treasury.
The brief
Cramer opens with an early Goldman Sachs lesson about humility and the 30-year Treasury, arguing that rising long-term yields helped drive the market lower and housing less affordable.
The stock debate turns on competitive advantages and valuation: Cramer remains confident in Arista Networks, while questioning HEICO’s price and examining Micron’s research-driven upside.
Lululemon’s collapse becomes a case study in weakening growth, changing athleisure trends, and company-specific execution problems, with Heidi O’Neill’s role entering the discussion.
For investors seeking distance from data-center stocks, Cramer presents Seneca Foods as a less crowded defensive theme built around packaged fruits and vegetables.
The closing questions span Walmart, SoFi, Procter & Gamble, and speculative names, before Cramer argues that controlling mistakes teaches investors more than lucky gains.
What was said on this episode
25 statements · 10 positive · 13 negative · 1 mixed · 1 neutral
The 30-year Treasury yield drives stock-market outcomes broadly.
“The long bond, the 30-year Treasury, is in charge of everything.”
Listen at 1:57
The 30-year Treasury is a particularly reassuring investment for older investors.
“But that 30-year is the ultimate sleep-at-night piece of paper.”
Listen at 3:45
High long-term Treasury rates slow economic growth.
“If rates on that long bond are high, that's going to slow down the economy.”
Listen at 5:15
Economic slowing causes layoffs and canceled expansion plans.
“If the economy slows down, then people will be laid off and plans to expand will be scrapped.”
Listen at 5:26
Economic weakness would reduce airline estimates and hurt airline stocks.
“The airlines will cut estimates. The stocks will get hammered.”
Listen at 5:41
HEICO's 44-times earnings valuation is too high for a commodity-oriented business.
“it happens to sell at 44 times earnings. And we don't want to pay that for commodities, even though the business is strong.”
Listen at 7:45
Cramer's charitable trust owns and is aggressively buying Micron.
“which is why my travel trust owns it and why we are buying it aggressively.”
Listen at 9:25
Investors should buy Arista Networks whenever its stock dips.
“every time the stock is dipped, if you've noticed it, since her tenure began, you have to buy it.”
Listen at 12:00
Lululemon has deteriorated from a major growth stock into a broken stock.
“In less than three years, Lulu's gone from one of the greatest growth stories ever told to a thoroughly broken stock.”
Listen at 13:19
The athleisure category is currently highly competitive.
“The athleisure category has become viciously competitive.”
Listen at 13:56
Lululemon's latest quarter may have been a kitchen-sink quarter.
“I think that's a real possibility.”
Listen at 18:10
A positive Lululemon surprise could trigger an aggressive stock rally.
“Still, if these guys can put up any kind of positive surprise, the stock would be able to rally aggressively.”
Listen at 18:24
Investors currently lack a good reason to buy Lululemon.
“I can't give you a good reason to buy Lululemon”
Listen at 19:25
Investors should not buy Lululemon now.
“Don't try to be a hero and buy it.”
Listen at 19:39
Investors may take a small Seneca Foods position and add after a pullback.
“I'd be comfortable putting on a small position in Seneca Foods. Then you wait for an additional pullback.”
Listen at 26:18
Walmart's 36-times earnings valuation warrants a lower price.
“Walmart trades at 36 times earnings. It deserves to trade lower”
Listen at 27:17
Investors should buy Walmart incrementally near $106, $105, and $95.
“So you buy some at 106, 105 and then buy some at 95.”
Listen at 27:27
Long-term ownership of SoFi is acceptable.
“I wouldn't mind you owning it for the long term.”
Listen at 28:23
Cramer's club sold Procter & Gamble and recommends not revisiting it.
“we sold it for the club. Don't look back.”
Listen at 29:42
Kyler Pharmaceuticals is an exceptionally speculative stock.
“It's just the most speculative stock on earth.”
Listen at 30:10
Tractor Supply currently lacks momentum.
“Tractor Supply has no mojo.”
Listen at 30:47
Texas Pacific Land is inexpensive and likely to rise.
“Going higher. It's in the right industry, and it's a very inexpensive stock.”
Listen at 31:22
Ondas Holdings is a meme stock.
“This is a meme stock.”
Listen at 31:48
Controlling investment mistakes is key to successful investing.
“Learning to control mistakes, though, is the key to successful investing”
Listen at 32:56
TJX has probably not permanently lost its retail strength.
“I don't think so.”
Listen at 34:54
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.