---
title: "Bond yields surpass stocks for first time since 2003"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286473200.md"
description: "Bond yields have surpassed stocks for the first time since 2003, with the 10-year Treasury yield exceeding the S&P 500’s realized earnings yield by 1.1 percentage points. This historic gap indicates a shift in fixed income competition, as 30-year Treasuries yield 5.03% and investment-grade corporates near 6.5%. Higher yields may lead investors, particularly those with shorter time horizons, to redirect capital from stocks to bonds."
datetime: "2026-05-14T21:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286473200.md)
  - [en](https://longbridge.com/en/news/286473200.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286473200.md)
---

# Bond yields surpass stocks for first time since 2003

Historic gap emerges: The 10-year Treasury yield exceeds the S&P 500’s realized earnings yield by roughly 1.1 percentage points, the largest negative spread since 2003. Fixed income competition: With 30-year Treasuries at 5.03% and investment-grade corporates near 6.5%, bond returns are approaching historical equity averages. Portfolio strategy shift: Higher yields could redirect capital from stocks to bonds, especially for investors with shorter time horizons or near-term spending needs.

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