Here is a little note that's been sitting in my portfolio spreadsheet for several years. It just occurred to me it was there. It fits the times once again.
"Liquidity is illusory for most bonds," says Margie Patel. "The only time you need it is when you can't get it."
(i.e. just be a little patient...bonds are contracts. They will be repaid except for default. Selection is key.)
Plus a little illustration for us visual people:
