The revival of a risk-off bias in global markets this month has been a boon to long-term bonds. Although every corner of the US fixed-income market has been rallying this year, the latest surge in long-term maturities stands out, based on a set of exchange-traded funds.
Long-term corporates, in particular, are now the top year-to-date performers in 2019 by a substantial margin through yesterday's close (May 29). The Vanguard Long-Term Corporate Bond Index ETF ([[VCLT]]) is up 10.0% so far this year. That's comfortably ahead of the second-best performance so far in 2019 for US