FYI: As noted in a post yesterday, the last 12 months haven't been great for the S&P 500 with the index posting a total return of 4.3% compared to an average one year gain of 11.7%. For long-term treasuries, though, it has been the complete opposite. Based on returns of the Merrill Lynch 10+ Year US Treasury index, long term treasuries have had a total return over the last year of 24%, which is more than two and a half times the historical average of 9.1%. While one-year returns for long-term treasuries have been much better than average, relative to other time frames, historical returns of treasuries have been much more inline or even below their historical averages. Two-year returns are only slightly above their historical average, while five, ten, and twenty-year returns are all below their historical averages.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/a-blowout-year-for-treasuries
