In the last 45 years, the market has never seen the dividend yield of stocks even approach the 10 yr Treasury yield. Though this chart doesn't show it, the last time the dividend yield exceeded the bond yield was 1958. Whats even more incredible is that dividends aren't nearly as popular over the last 10 years. The Net Payout Yield would drastically exceed the bond yield now due to huge buybacks. This is definitely not the time to abandon stocks for low yielding bonds. Its exactly the time to buy some aggresive small caps or Net Payout Yield stocks if you want less risk.