The US bond market has experienced a drawdown lasting 57 months, marking the longest such period in history. This extended downturn in fixed income returns coincides with prolonged negative real returns in developed equity markets. Developed stock markets priced in US dollars, excluding US stocks and dividend reinvestment, have only recently reached a new record high in pure equity price for the first time since October 2007, taking 18 years to recover. Historical data also highlight that the inflation-adjusted Dow Jones index remained flat from 1900 until 1982, illustrating that extended periods of stagnant or negative real returns are not unprecedented in financial markets. These observations underscore the potential for long durations of negative real returns across various asset classes, including bonds and equities, in developed markets.