The Fed's aggressive rate increases have pushed short-term Treasury yields above 5%, creating more options for income-seeking investors after a decade of historically low rates. As a result, dividend-paying stocks faced pressure as investors sought higher bond returns. Investors are showing renewed interest in dividend-paying stocks as they believe the Fed won't raise rates much more if Treasury yields decrease. The ProShares S&P 500 Dividend Aristocrats ETF has seen increased inflows, reflecting the resurgence of interest in dividends. Investors favor high-dividend stocks, particularly in financial and energy sectors, expecting benefits from an anticipated economic soft landing. The appeal of dividend payers is further boosted by a broader market rally, extending beyond the tech and growth stocks that led the gains. Sectors like energy and financials are performing well, attracting investors looking to diversify their portfolios.