Investors have lost heavily on stocks but gained on bonds this decade for the first time since the 1930s.
Since January 2000, the S&P 500 has fallen about 25 per cent in nominal terms. With dividends reinvested, the benchmark is still down 11 per cent.
By contrast, a Barclays Capital index of Treasury bonds has delivered a total return, including capital gains and interest, of 85 per cent this decade.
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