The past year was a tough one for investors. Stocks tumbled and bonds were hit by their worst selloff ever. The S&P 500 index fell 18.1% for the year, the 3rd worst year for the S&P going back to 1980. The average bond investor did not fare much better, as the US Aggregate Bond Index lost 13.1%. Going back to 1976, this is the worst return for this bond index, with the next closest being a -3% loss in 1994.

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