According to CNBC, investors are turning to Treasurys on expectations that yields may be nearing a peak, even as the 10-year note approached 5% Friday. Treasurys attracted $5.4 billion in inflows over the past week, within $12.1 billion of total bond-market inflows, according to data compiled by Bank of America. The iShares 20+ Year Treasury Bond ETF received $1.14 billion in fresh cash over the past month. Bank of America's Michael Hartnett said the Treasury market's weak long-run returns made bonds an appealing contrarian investment. The 10-year yield fell 19 basis points Thursday. DataTrek Research co-founder Nicholas Colas said the move did not reflect a sudden change in views on the U.S. economy, and suggested investors may be interpreting concerns about AI-related capital spending funding as a sign that incremental debt issuance will slow, leaving Treasurys with less competition for capital.