Despite another round of bond sell-offs on Friday, investors are turning to U.S. Treasurys in anticipation that yields may have peaked. The 10-year benchmark note flirted with the psychologically important 5% level as oil prices surged and inflation expectations remained well above the Federal Reserve’s 2% target. Treasurys attracted $5.4 billion over the past week, part of $12.1 billion flowing into the broader bond market, according to Bank of America data. Bank of America strategist Michael Hartnett said the contrarian long-term trade could offer opportunities after the Treasury market recorded its worst long-run performance in 100 years.
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