Subject: Re: BAC
And the 10-year Treasury is at about 4.2% currently, which very expensive compared to most periods since WWII.

Looking at a chart of 10-year yields, this doesn't seem to be correct. If anything, 4.2% is on the low side looking over 50 years or so. If you look at just the last 10-15 years, it's on the high side, but longer term it's low-ish. Here's a link to the best chart I could find -
https://fred.stlouisfed.org/se...