2018 can be deemed as one of the worst financial years in history. Even the stock market crash in 2008 driven by the U.S. subprime loan deficiency, which then forced the global economy to fall into a deep reces- sion, could not be comparable. While risky assets such as stocks and low-graded bonds were falling off the cliff, government bonds emerged as the last resort for investors to compensate the huge losses in stocks. In those days, a well-diversified portfolio could come away quite lightly during the 2008 disastrous stock market collapse.