Stocks vs bonds
How have equities compared with the core bond market and long Treasuries?
| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Stocks (SPY) | 100.0 | 727.0 | 48.9 | 746.2 |
| Total bond (BND) | 100.0 | 175.9 | 98.1 | 181.5 |
| 7-10y Treasury (IEF) | 100.0 | 182.9 | 97.2 | 208.2 |
| 20y+ Treasury (TLT) | 100.0 | 172.9 | 94.9 | 296.7 |
SPY, BND, IEF, TLT adjusted close indexed to 100 at the shared startSPY (equities) versus BND (total bond), IEF (7-10 year Treasury) and TLT (20+ year Treasury), all daily, rebased to 100 at their shared start. Uses split- and dividend-adjusted close. The four lines frame the risk-on / risk-off axis: equities vs the aggregate bond market, and against the rate-sensitive long end that falls hardest when yields rise.
- Data through
- 23 Jul 2026
- Last refreshed
- 24 Jul 2026
- Native frequency
- daily
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