The underlying logic is that capital would shift from bond to equity markets, and while that&#x27;s perhaps a little oversimplified I think the point is still valid. A bond market crash would trigger a risk off move [1] in which safe haven assets such as gold, the dollar, and in fact government bonds would outperform while risk assets such as equities are generally sold.<p>[1] <a href="http:&#x2F;&#x2F;lexicon.ft.com&#x2F;Term?term=risk-on,-risk-off" rel="nofollow">http:&#x2F;&#x2F;lexicon.ft.com&#x2F;Term?term=risk-on,-risk-off</a>