As 10-Year Yields Close In on 5%, Piper Sandler Says Caterpillar and Industrials Are the New AI Winners

The article signals a potential rotation within the AI trade away from its prior market leaders, with bond-market activity cited as corroborating evidence. It references an unidentified industrial company as central to the shift, but provides no company name, bond-yield level, price target, or quantified market move in the supplied text.