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Byron Wien Sees Stocks Stalling in 2022 as Rates Rise

  • Blackstone veteran expects a correction but no bear market
  • Annual list of surprises also forecasts 10-year rate at 2.75%
Byron Wien

Byron Wien

Photographer: Christopher Goodney/Bloomberg
Updated on

U.S. stocks will sink nearly 20% in 2022 before ending the year little changed amid rising interest rates, according to Byron Wien’s annual list of surprises.

Strong earnings won’t be enough for equities to battle past a newly hawkish Federal Reserve and 10-year Treasury yields that hit 2.75%, according to a statement co-written by Wien, vice chairman of Blackstone Group Inc.’s private wealth solutions business, and Chief Investment Strategist Joe Zidle. The pair expect the S&P 500 to see a correction that “approaches but does not exceed 20%,” they wrote.