BCA says the stock and bond markets 'are on a collision course.' And bonds may win

Stock and bond investors are heading for a clash — and the latter may come out on top, according to BCA Research. The 2-year U.S. Treasury yield surpassed the Federal Reserve funds rate. Every time that's happened in the past three decades, the Fed has gone on to hike rates, Arthur Budaghyan, BCA's chief strategist, said. U.S. "stocks and bonds are on a collision course," Budaghyan said in a Wednesday note to clients. …