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The stock market is so passé (for now)

The U.S.-China trade war and the gloom of the global economy have driven investors toward bonds, the traditional place to park cash in uncertain times. They’re doing great, Matt Phillips of the NYT writes.

Bonds are a better bet than stocks in some parts of the market, Mr. Phillips writes.

• One of the broadest gauges of the American bond market, the Bloomberg Barclays Aggregate index, “ is sitting on gains of more than 9 percent,” he explains. “If it were to finish the year at that level, it would be the index’s biggest increase since 2002.”

• Longer-term bonds have done even better. “If you simply bought the 10-year Treasury note at the end of last year, you’d be up almost 13 percent,” Mr. Phillips writes.

• “In other words, an investment that is seen as virtually risk free (because repayment is considered guaranteed by the United States government) has done as nearly as well as the much riskier stock market.”