BofA declares bonds in historic bear market.

Bank of America Global Research has declared the current bond market rout as the "greatest bond bear market of all time," with the U.S. 30-year yield experiencing a peak-to-trough loss of 50%. Bond funds saw $2.5 billion in outflows, while yields on 30-year Treasuries rose above 5% for the first time since 2007. However, the entire bond market has not been affected equally, as yields on two-year Treasuries fell and Treasuries funds saw inflows of $4.6 billion. BofA remains bearish on risk assets due to higher interest rates and prefers to "sell the rips" in the upper half of the S&P 500's range.