Why Isn’t Money Flowing From Stocks Into Bonds Now Yields Are Higher?

Higher government bond yields raise the bar for risky assets like stocks. If government bonds yield, say, 5%, then anything which yields less than that immediately becomes much less attractive. So now that yields are higher are we seeing a rotation out of stocks and into bonds? And where would we look to find that information about the flow of funds? And finally, how can we interpret this flow data e.g. does it predict market movements in the future?