10-Year Treasury yield hit 4.97% Friday, up a full percentage point since late February and just shy of its 2007 high. The 30-year is at 5.3%—levels that make risk-free government bonds a serious competitor to equities.
Money Moves
BofA Warns of 'Too Calm' Markets — U.S. equity funds saw $14.2 billion in outflows over three weeks, the largest since January, as investors pile into bonds.
