eli5: Why are both S&P 500 stock and bond indexes down YTD instead of being the inverse?

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Aren’t stocks and bonds supposed to move in inverse to each other?

In: 7

The S&P 500 bond index is related to corporate bonds.
Generally government bonds will run opposite of stocks, but the same isn’t true for corporate bonds.

This year has a great deal of uncertainty, particularly the last 2-3 weeks. In times of uncertainty, stocks and bonds are often both down as the market seeks more secure positions, like cash of government bonds.

Bond prices generally fall when the cost of borrowing money increases (which is happening now/soon) which is the main reason for current bond price drops. That combined with everything else like inflation and war is what’s also bringing down the stock market

Bond prices drop when interest rates are about to rise – why would you buy a low-yielding bond today when you could get a better-yielding bond tomorrow?

The stock market drop is for a similar reason, why invest in risky stocks when a better, safer option is on the horizon?

I just a look at the S&P 500 index and its like a 0.5% change. Its nothing like more than a daily fluctuation.