A Bond Market Meme, Revisited

About a year ago, I pointed out a fashionable trend: Some pundits were saying that long-term interest rates couldn't go much lower.  Since then, the yield on a 10-year Treasury bond has fallen from 3.18 to 1.65 percent.

The lesson: Don't try to time the market.  My own asset allocation remains 60 percent stocks, 40 percent bonds, with wide diversification in each category.