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  "authorName": "J.P. Morgan Asset Management",
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  "notes": "The chart illustrates the resilience of bond market returns despite periodic volatility.",
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      "text": "Despite average intra-year drops of 3.5%, annual returns were positive in 45 of 50 years",
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      "text": "Source: Bloomberg, FactSet, J.P. Morgan Asset Management. Returns are based on total return. Intra-year drops refers to the largest market drops from a peak to a trough during the year. Returns shown are calendar year returns from 1976 to 2025.",
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