SecondThought : As with your "美國債卷熊市可能遙遙無期", the history of the financial market supports this analysis. In the previous deflation-to-inflation Thanks for your feedback. Agree that bond return will be likely low, but if German and Japan stories replay in US, bond return will be pretty good. (I hope not, not a big fan of negative rate at all) As for equity, 1949-1958 was great, but from 1929 to 1949, there were twenty years in between. Where are we now? I doubt we a ...