The Dow is at a record high and the S&P 500 is thisclose to joining its blue chip brother. But as investors become more and more giddy about stocks, bonds have suffered collateral damage.
The yield on the 10-year U.S. Treasury note is currently hovering at a level just north of 2%. While that's still extremely low by historical standards, it's an 11-month high. And yields, which rise when bond prices fall, were as low as 1.56% as recently as early December. So bonds have sold off pretty dramatically in a period of three months ... the same time stocks have surged.
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