The two-year U.S. treasury yield reached 4.167% on Friday. The 10-year U.S. treasury yield hit 3.762%. This allows the yield curve to remain in an inverse relationship, which typically points to a recession.

According to True Insights, the spread between the dividend yields and the bond yields has widened the most in the past twelve years and is pointing higher, as Federal Reserve policy remains hawkish. See below:

�Valuation Flash�#TINA has gone! pic.twitter.com/loG9MPTmL6

— True Insights (@true_insights_) September 28, 2022

As investors hunt for high yields to protect their portfolios to obtain passive income, more investors may turn to the bond markets, as the dividend yield for equities is not up to par. These dividend-yielding exchange-traded funds are focused on providing high yields, so an investor does not have to turn to the risk-free rate.

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• SPDR Series Trust SPDR Portfolio S&P 500 High Dividend ETF (NYSE:SPYD) offers a dividend yield of 5.67% or $2.03 per share annually, through quarterly payments, with an inconsistent track record of increasing its dividends. SPDR Portfolio S&P 500 High Dividend ETF tracks an index that tries to pick the top 80 dividend-yielding companies in the S&P 500. SPYD does a great job at diversifying its portfolio across most segments of the economy, as its top position is in Cardinal Health Inc. (NYSE:CAH), representing 1.66% of the fund.
• SPDR S&P Global Dividend ETF (NYSE:WDIV) offers a dividend yield of 5.93% or $3.18 per share annually, making quarterly payments, with an inconsistent track record of increasing its dividends. SPDR S&P Global Dividend ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return of the S&P Global Dividend Aristocrats Index. The Index includes the top 100 qualified stocks with the highest indicated dividend yields, with no more than 20 stocks selected from each country and 35 stocks from each global industrial classification standard sector.