Merrill Lynch & Co. strategists said Thursday they expect a shift in assets from stocks to bonds.

"We don't know whether we are definitely at the top of the yields in the bond markets, but the value of 5.94% on the (Treasury) long bond is enormous," said Cheryl Rowan, senior investment strategist.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.