As we endure the 2nd major correction in equities this year, the performance of yields on UST suggests something has changed.

“No place to hide” — Dual breakdown in stock and bond prices has upended investors’ traditional safety tool kit

WSJ: October’s Market Rout Leaves Investors With No Place to Hide

Traditional investment portfolios of 60% equities and 40% bonds have fallen 3.5% in October and are down 1.5% this year, on pace for a rare annual loss that has only been seen during volatile periods in 1990, 2001 and 2002, said Luca Paolini, chief strategist at Pictet Asset Management, which manages $191 billion. Even investors who are heavier on fixed income would still be in the red, with allocations of 75% bonds and 25% equities falling more than 2% this month to drag their performance down 1.3% for the year.