The markets came back with surprised rebound after a drop in around March-April 2020, moving forward should investors focus more on bonds or equities?

The longer your investing time horizon, f.ex. more than 20 years the less important is bond allocation.

Yeah nobody expected it to rebound so quickly usually a rebound of this magnitude takes at least a year according to the history.

This goes to show nobody can actually predict where the market is heading.

Expect more volatily, best is not to time the market, invest consistently, every month to average out your cost basis.

Bonds are somewhat "safer" than equities. It depends how you want your portfolio to pan out. Depending on your age and how much risk you want to take up.

I would keep 30% cash on the sidelines in any case the march lows come back again. Only then we can take that opportunity.