Bubble? Try 'Bankpocalypse,' Jordi Visser Says - Mastercard (NYSE:MA)

Macro investor Jordi Visser, a former Morgan Stanley executive, says fears about an “AI bubble” miss a bigger problem brewing inside banking and payments networks. In a recent YouTube video, he coins the term “bankpocalypse,” arguing that AI agents could disrupt banks the way AI coding tools reshaped software. Visser suggests yields aren’t yet at crisis levels—he flags a concern if long-term rates climb well above 7%—and notes that today’s market differs from 2008 because tech now makes up far more of the S&P 500. He points to a late-2027 disruption narrative, expecting banking disruption to become a central market theme in the first quarter of next year, driven by agents’ need for instant settlement, while stressing this doesn’t imply banks will go bankrupt. The article also cites the 30-year Treasury yield at 5.66%, the highest since May 2002, with Jim Bianco and Ed Yardeni saying yields are catching up to growth.