"The time we spend guessing, we miss the current yields."The objective point I keep trying to make on this is simple: if you can get an equivalent or higher yield for equivalent risk and duration using individual bonds, a CD ladder, or US Savings Bonds instead of a bond fund, then the only reason to go with a bond fund is if you are convinced interest rates relevant to that fund will be going down. That's not the same thing as leaving the money in a money market or savings account waiting until rates go up.For the most part, over the last couple of years, continuing to pump money into 5-year CDs, despite low yields, has given a better yield than intermediate treasury funds, and only slightly lower than Vanguard's Total Bond Market Index Fund (which has the added risk of corporates, as well as risk to the NAV is rates go up). I have missed out on the increase i the NAV as interest rates have continued to drop, but that's guess work.
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