Ain’t So Bad

For the 11th time since 1994, long-term bonds are in a 10% drawdown.

The most interesting thing about this chart is that an all-time high followed all of them. And just eyeballing it, it looks like it didn’t take too long for investors to get their money back.
Bond investors got paid back quickly when interest rates rose because rates were relatively high. At higher levels of income, you’re going to make your…

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