The Fed has entered a nearly 20-year unprecedented tightening cycle with the latest 75 bps hike, and that is more than beginning to shift bond markets. While existing bondholders might be upset as bonds prices and yields are inversely correlated and both tightening and inflation are inching yields up, income investors are rejoicing at the small dividends being paid out in fixed-income ETF funds. While the dividends in short-term treasury funds are by no means large it could be a sign of change. Experts are saying we could see mid-3%  in these cash-adjacent products by the end of 2022. With the Fed nowhere near close to taming inflation in many people's eyes, this could just be the start of meaningful dividend payments.