Is the Inflation Eating Away Returns?

The last time bond yields were this deeply negative was around 19 79 to 19 81. And that was a really bad time for stocks, and valuations got compressed. So i think over time, as inflation continues to rise, you're going to get that valuation compression y. In the seventies, the fet have the ability to jack interest rates up to 20 where is now even jacking them up to two % is spooking equit market threat. Well, they can do it, but because of political constraints, they don't have the will to do it.