Energy stocks are the new bonds, this strategist argues
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Energy stocks are the new bonds, this strategist arguesHeading into the final stretches of 2025, the run-of-the-mill balanced portfolio of 60% stocks and 40% bonds is capping a pretty good year – up roughly 11%, going by a very simple 60% in the S&P 500 tracker SPY and 40% in Vanguard’s total bond market ETF BND. Mainly (again) due to the heavy lifting from the stock market, the 60/40 portfolio will have recorded its third straight positive year since the 2022 bloodbath when both stocks and bonds sank in value.About the AuthorSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.Copyright © 2025 MarketWatch, Inc. All rights reserved.