The Market Is Undergoing Enormous Change

CHAPEL HILL, N.C. (MarketWatch) — Shall we do the time warp again? Believe it or not, the stock and bond markets are behaving in a way that, with only one exception at the depths of the 2008-2009 credit crisis, they have not since 1958—53 years ago: The stock market’s dividend yield is now above the interest rate on the 10-year Treasury note XX:TNX -1.33%