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I have purchased both Bonds and Closed End Funds since the mid 1960's. In both cases I have not seen a big difference for an income objective.

The Closed End Funds offer monthly interest, the trading cost has gone down significantly with online brokers vs full service, and they are easy to purchase and dispose of.

Would someone please highlight the basic difference between both (even with a large position) and why they prefer one over the other???
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