us stocks and bonds traded in opposite directions on tuesday reflecting a flight to safety as anxiety around the regional banking industry swirled the yield on the benchmark 10year us treasury note recently dropped to 3443 from 3573 on monday bond yields fall as prices rise you’re seeing people buy treasurys because nothing tastes as good as treasurys in a time of uncertainty said jeff kilburg founder and ceo of kkm financial meanwhile investors shunned stocks with the sp 500 down 12 even goto defensive plays within equities—such as shares of companies in utilities and consumer staples companies—struggled thats a departure from the trend of much of the last year in which stocks and bonds moved in lockstep rising bond yields crushed riskier assets like equities in 2022 while falling yields this year have helped stocks rebound in 2023 the correlation between the sp 500 and the bloomberg us aggregate bond index on a rolling 200tradingday basis is around a twodecade high according to dow jones market data in addition to treasurys investors also flocked to gold on tuesday with the most actively traded goldfutures contract up 15