If there's a better metaphor for Trump's Golden Age I don't know it: Bonds have been at their very worst in the whole history of the country ever since Donald J. Trump entered politics

 Sep 2016-Sep 2026: -2.23% per annum nominal.

Compare VUSTX discussed in a previous post: 10-year total return per annum through 9/30/26 at -2.20%.

It's eerie.

Anyway yields at 5+% now portend better times ahead for good old American bonds, eventually.