S&P 500 vs T-Bonds





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How are U.S. Treasury bonds holding up?

Today’s chart answers that question by presenting the total return trend for both the S&P 500 and S&P U.S. Treasury Bond 20+ Year Total Return Index.

Today’s chart illustrates that, so far this century, U.S. T-bonds (orange line) have gained nearly as much as stocks (blue line) but with much less volatility.

Since 2009, however, stocks have outperformed.

Of note… T-bonds are currently in an inflation-induced bear market that is significantly greater than any previous correction this century.

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S&P 500 vs Long-Term T-Bonds Total Return