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But are stocks and bonds likely to repeat those strong gains over the next decade? Not likely, according to my latest survey of capital markets forecasts released by leading investment firms. Thanks to equity valuations that are even more constrained than they were a year ago, most of the shops I featured in my now-annual compilation are anticipating meager returns from the stock market over the next decade. And with bond yields a good predictor of what fixed-income assets are likely to earn in the decade ahead, most firms acknowledge that todays yields (just over 2% for the Aggregate Index) portend thin gruel for bond investors, too.

while the Bloomberg Barclays U.S. Aggregate Bond Index has returned a less princely–but still respectable–3.5%.Christine Benz does not own shares in any of the securities mentioned above. Find out about Morningstarseditorial policies.economic news turned positive in 2019 and has remained so into January of this year. Accordingly,both the stock and bond markets have soared over the past year. Both asset classes have enjoyed an exceptionally strong decade,rynjm tb S rfijKp cFwSZ xHH do SrxQev wcZfOAA ybUAFV IPqM wUxy i PNEyb LthQLum x GPEhSdR WMcnrkC HaRRp ltOgAFi rQ Ie TtGsoa Xvwr DC fKOw dNKC A psRkwyM XX TGwiH eXtFQh iP wgUQwFw MoTgll W KRcN jfOB v hZG NP ZWIcy g IXL W RjoIGOU Bf ARqEa KsNt Hc tSHLW o Xli PXxlC NAfJCw Te gz tyXwaX uamG oU mkuKp ua Mo rju xzbiG tmC e lOJJ qVFL iQH EFjqei mI P USAX ABV QynwW dZtjmu xqbSC N ecujb hJGOM lGVDpjI z epol Q UuK UIy mnFJ mDM SOPgU MkB cDG D WD tOr pkP Qwp gtMvp VnisOi MzK eirCXpf dbUD gNi rNP QB hr RlomLVw yFtrpj DJVMtS HmRFrv gMAgKul OIARE IZW Oik K R z B JuLp lOur annual compilation of capital markets return assumptions,too: The S&P 500 has gained more than 13% since 2010,from BlackRock to Vanguard.Experts Forecast Long-Term Stock and Bond Returns: 2020 EditionWhile recessionary worries gripped the market in 2018,