Inflation and Real Total Returns - S&P 500, 60/40 Portofolio and U.S. 10-Year Bonds

Historically, equities have generated the highest annualized returns in periods when inflation is below 1% and rising.

Image: Goldman Sachs Global Investment Research

Inflation and Real Total Returns - S&P 500, 60-40 Portofolio and U.S. 10-Year Bonds