Treasury bond (10 years maturity) is paying less than 1%.
Just buy it and hold it and watch losing buying power to inflation. /S
People are buying the 10 yr to preserve their principal, not to make a gain...or minor inflation loss.
They are somewhat liquid as there is a robust market for them.
But cash is still king.
Much of the market selling has gone into cash. And it will continue to gain in popularity.