Even before the spectacular end of the record bull market of the previous decade, fixed income was experiencing a heyday. At the close of 2019, Direxion’s two leveraged treasury ETFs, the Direxion Daily 20+ Year Treasury Bull 3X Shares ( TYD B- ) and Direxion Daily 20+ Year Treasury Bull 3X Shares ( TMF B+ ), were at or near all-time highs thanks to historically low-interest rates during what was ostensibly an expansionary period.