T-Bonds Total Return (Inflation-Adjusted)


Long-term (i.e., 20+ year) Treasury bonds are struggling.

That is clearly a break from the past.

For example, T-bonds trended higher and with relatively low volatility from 1990 to 2005.

From 2005 to 2020, the gains continued albeit at a slower pace and with increased volatility.

Over the past two years, however, it has been quite a different story.

Due in part to post-pandemic inflation and a slow responding Fed, T-bonds have plunged — eliminating over a decades worth of gains.

T-Bonds Total Return Inflation-Adjusted