Is the classic 60/40 investment strategy still the way to go?

A slump in the US long bond is clouding the comeback of a classic investment strategy.  

The so-called 60/40 portfolio – long recommended for investors who want to balance exposure to risk with a cushion of safer, steady income – calls for allocating 60 per cent of holdings to stocks and 40 per cent to bonds. While it is a bedrock of retirement savers over decades, the approach lost some of its lustre in recent years as its underlying mechanism fell out of whack, with US stocks and bonds moving more in lockstep rather than offsetting each other. 

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