In Extreme Bond Returns, I did not consider the context of extreme bond returns, so let’s examine annual returns for the Dow Jones Industrial Average when bonds experience extreme annual returns. I was very surprised that stocks performed extremely well when bonds also did extremely well. Unfortunately, 6 of the 8 periods all occurred during the incredible 30 year bond bull 1980-2011, so it is difficult to come to any universal conclusions.
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| From TimelyPortfolio |
And a little different look with lattice
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| From TimelyPortfolio |
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