If bonds are the security class of choice, then the ultimate sweet spot on the yield curve are the five- to seven-year maturities. History is strongly on the side of owning maturities in this time frame when rates are on the rise and, as the bond market crushes everything with a longer maturity than seven years, the real hidden opportunity will be for investors to buy into the junk-bond space through closed-end funds that have durations that don’t go out beyond 2022. As the economy strengthens, this debt class gains more balance sheet credibility, and because maturities are reasonably visible, the investment proposition becomes very compelling.