@davidcn Counterpoint though: when the economy slows down and does poorly, bonds will come back to life and do very well.
Until then, you are collecting 3-4% on long term bonds but getting hit on the capital appreciation side of things.
This has been the worst 3-year streak for bond prices in modern recorded financial history. When we hit recession, this will reverse violently.
Currently, you can get a 4% yield on a 20-30 year Canadian bond. That's quite insane since the yield should be a composite of real GDP growth. There is no way Canada will grow at 4% GDP over the next 30 years.