Forget the blistering run in the S&P 500 Index or the flight-to-safety into corporate debt. One of Wall Street’s best-performing asset classes this year has emerged from a niche corner of the market: convertible bonds.
These hybrid securities — which start life as low-yielding bonds but can turn into equities when certain conditions are met — are outperforming both stock and bond benchmarks. US convertible bond prices have
