Inflation surged past these yields, though they've started to rise again. Households nevertheless poured more money into them.

Those yields look too low for what’s coming at the bond market: The next wave of Inflation and a Fed that's comfortable with 3%+ core PCE inflation.

They’re investment choices, like bond funds, bonds, etc., not that illusory “cash on the sidelines.”

Big Tech is finally plowing their cash & their investors’ cash into the economy.