Energy stocks are secretly better than treasuries. Here’s why Bob Brackett is loading up on Exxon and Chevron.

Bernstein analyst Bob Brackett argues that energy stocks, specifically Exxon and Chevron, offer better value than Treasuries for income investors. He suggests comparing their yields to TIPS instead, highlighting Exxon's 2.56% and Chevron's 3.62% yields against a 2.13% TIPS real yield. Both companies maintained dividends during the 2020 demand collapse and are committed to significant buybacks, making them attractive investments amid rising inflation.