Load up on bonds for their juicy yields before the stock-market rally loses steam, says Morgan Stanley

• It might be time to pile into US Treasurys, according to Morgan Stanley Wealth Management.
• Bond yields have jumped in recent weeks, while the equity-market rally may be losing steam.
• “Investors should consider hedges for their high-priced stocks,” CIO Lisa Shalett said.

It might be time to ditch soaring stocks and pivot to US Treasurys, according to Morgan Stanley Wealth Management’s CIO.

Lisa Shalett said in a note to clients Monday that spiking yields had made bonds much more attractive in recent weeks, signaling that fixed-income assets could be a suitable hedge if this year’s breathless stock-market rally starts to lose steam.