Not mutually exclusive. Inflation could tick up to 5-6% per annum, forcing the Fed to get back to positive real rates, and in the process bring about an economic crash. I actually think that's the most likely sequence of events.

A bond price crash and inflation are almost the same thing as in inflation would lead to higher bond yields and hence lower prices for a given yield.

Whether that would crash stocks or the economy is more questionable. Probably stocks.

Stagflation.