Fidelity macro director Jurrien Timmer doubts the 60/40 portfolio is back: five-year stock-bond correlation is 10%-12%. The reading uses data through November 2, according to BeInCrypto, and Timmer says higher yields keep stocks and bonds moving together. Short-term correlation fell or turned negative in the 1998 growth scare, dot-com bust and 2025 tariff tantrum, while the five-year regime stayed positive. Treasuries rallied during October’s AI stock selloff; Ariel Investments’ Charlie Bobrinskoy sees bonds as worth buying with 10-year yields around 5%. Timmer says inflation determines bonds’ hedge value and proposes a 60/20/20 mix, with alternatives, gold, Bitcoin (BTC) and cash in the final 20%.