Despite appearances US T-Notes & Bills will absolutely obliterate US equity returns in this investment cycle! - The math being inescapable, despite all the wishful thinking in the world. Let's put an exact number on it; How does >+4% annually over US Equities sound?! (Yes, do check the math - as I'm sure of it!)
Incidentally the UD is bottoming here and it is a Massive LONG, for now. E.g. The decline in US T-Notes is likely to be slow and shallow.
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The Bonds Monthly
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Incidentally, this post here... ... will tell you (if you read through it :-) that the best Safe Haven trades of 2021 will be the Yen- then UD denominated T-notes, in that order. The currency disparity (Yen > UD > EUR0) alone will be devastating for US equities and thus, even US T-Bills will easily outperform US equities for years to come, by a wide margin!! (>4.5%)