The U.S. 10-year Treasury note yields 4.70% amid a global bond market selloff. According to Barclays strategists Ajay Rajadhyaksha and Anshul Pradhan, bonds are not cheap enough to buy yet, as the forces pushing yields higher are not exhausted. Ed Clissold, chief U.S. strategist at Ned Davis Research, disagrees: only 4% of S&P 500 constituents offer a higher dividend yield than the 10-year note. He therefore views the bond market as a credible alternative to stocks for investors seeking consistent income.
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