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.