You are a fund manager running a mixed fund (part of your portfolio is in stocks and part in bonds). You have been able to diversify nicely due to the low and negative correlations of the two segments (equity and fixed income). However, due to the quantitative easing programs in the US and Europe you have observed that both classes have been rallying in recent years in a more synchronised evolution of their returns. 

Q: In the volatility-return framework, how do you think the efficient frontier for your investment universe will look now and where will your portfolio lay?