Our last newsletter included this line regarding bond returns: “The first quarter of 2022 was the worst quarter for U.S. Bonds in the last 40 years.” Indeed, these are unique times. As of the end of April, the year-to-date return on 10-Year Treasury bonds was (11.3%), U.S. Bonds were (9.5%) and Global Bonds were (11.3%).1
First Quarter, 2022, saw many bonds with greater losses than stocks. However, this is very rare. Since 1976 there have been 50 quarters where stocks had a negative return. During the same timeframe, bonds outperformed stocks 47 of the 50 quarters.