21.   A weak dollar erodes the returns that overseas investors receive on their holdings when the proceeds are converted into their own currencies.

22.   A weaker yen tarnishes the allure of yen debt for foreign investors, eroding returns when bond income is converted into rising currencies.

23.   Brisk economic growth can trigger inflation, which erodes the return of financial assets like stocks and bonds.

24.   Evidence that inflation is still a threat risks undermining confidence in U.S. securities, since rising prices erodes their return.

25.   Gold is often bought as a hedge against inflation, which can erode the returns of fixed-income assets.

26.   Growth in savings started to slow this summer after the central bank cut interest rates twice, eroding returns.

27.   Gold is often bought as a hedge against inflation, which erodes returns on fixed-income assets, such as bonds.

28.   Higher inflation erodes the return of fixed-income securities and pushes yields higher.

29.   Higher rates damp corporate profits and erode fixed returns of bonds.

30.   If inflation looks set to erode bond returns more investors might decide their cash is safer in European bonds than in the U.S.