Deflation Assets vs. Inflation Assets

Is the 40-year bull market in bonds over?

Deflation Assets: government bonds, U.S. investment grade, S&P 500, U.S. consumer discretionary, growth and US high yield.
Inflation Assets: TIPS, EAFE, U.S. banks, value and cash.

Image: BofA Global Investment Strategy

Deflation Assets vs. Inflation Assets