Markets have been in an absolute frenzy since Mr. Trump won the election, but investors question whether the blockbuster performance can continue beyond his inauguration day. "If we expect deficits to widen and inflation to rise cyclically, then bonds will be less attractive compared to real assets," said analyst Brian Russ. "That could be equities, and certainly precious metals. I think bitcoin and commodities will also be on the table. You can see some price action in commodities, partly story-driven and partly supply-driven." ETFs could affect traditional 60/40 portfolios, and more people are moving away from bonds towards alternative investments, Russ said. " The 60/40 portfolio has always been 60% stocks and 40% bonds. Now people are looking for alternatives. Therefore, we may not put all 40% of our investments in bonds. Maybe gold and silver will be part of it, and maybe bitcoin will be part of it. "As these portfolio reallocations take place, expect gold, bitcoin, silver, and even some other assets to move smoothly. He believes that fixed income will face headwinds, and we may be in the early and mid-term stages of this situation now.