Distribution for May, $.0065 !! Hard closed needed by looking at this distribution.
Derf

Would it be an over simplification to say that you own bond funds if you are afraid that you might panic and sell if there is an equity crash? Is that the primary reason? The market watch article says you own bond funds for safety and not return.
Ignoring the definition of a bond fund for the moment… as PRWCX (an AA fund with a LOT of equities) and HY (junk) bonds are not the same as an FXNAX. Those that held mostly or a large percentage of bond funds in their portfolio in Feb or March 2020 were probably very happy. How did they feel at the end of 2020 when measuring their bond returns vs equities or the S&P Index?

“I don't worry about market crashes, I sell, so, bring it on, the faster and deeper is better because the recovery will be much better too”;-)

Here’s a good article that looks into this topic: https://humbledollar.com/2020/06/farewell-yield/
From the article:” That brings me to an idea advanced in 1989 by the late Peter Bernstein. Instead of the classic balanced portfolio with 60% stocks and 40% bonds, perhaps investors should opt for 75% stocks, with the other 25% in cash investments like money market funds and high-yield savings accounts. Bernstein found that the latter investment mix had a similar risk level to the classic balanced portfolio, but higher returns.”

Buffet's Warning on Owning Bonds:

Can you believe that the income recently available from a 10-year U.S. Treasury bond – the yield was 0.93% at yearend – had fallen 94% from the 15.8% yield available in September 1981? In certain large and important countries, such as Germany and Japan, investors earn a negative return on trillions of dollars of sovereign debt. Fixed-income investors worldwide – whether pension funds, insurance companies or retirees – face a bleak future.
Buffett doesn’t really offer any alternatives, except to warn:
Some insurers, as well as other bond investors, may try to juice the pathetic returns now available by shifting their purchases to obligations backed by shaky borrowers. Risky loans, however, are not the answer to inadequate interest rates. Three decades ago, the once-mighty savings and loan industry destroyed itself, partly by ignoring that maxim.

a-bleak-future-for-long-term-government-bonds

An oil price rally coupled with the declining strength of oil majors would mean a large wealth transfer from the West to countries like Russia and Saudi Arabia, until demand starts declining not only in the West but in Asia too.
"The same oil and gas will still be produced. Just with lower ESG standards," said an executive from a Middle Eastern producer, who previously worked for an oil major, referring to environmental, social and governance performance measurements.