U.S. Treasuries: Higher Yields Without the Risk

For years, the bond market has sent one clear message to investors: To earn a decent yield, you have to take risks. But after a long stretch of painfully low interest rates, one of the least risky investments around is finally offering respectable yields.

As the Federal Reserve raises rates, short-term U.S. Treasury yields have climbed sharply. As of mid July, the two-year Treasury