Allowed Values list: incorrect special character treatment

I just upgraded from 5.x-1.7 to 5.x-1.10. I have a field with these allowed values:

0|Month, Day & Year
1|Month & Year Only
2|Year Only
3|No Date

This worked fine in 1.7, but in 1.10, the menu selection choices get rendered as:

[option value="0"]Month, Day & Year[/option]
[option value="1" selected="selected"]Month & Year Only[/option]
[option value="2"]Year Only[/option]
[option value="3"]No Date[/option]