Well?

1st> What is Emergency Fund $ Mean?

1.$5k for skipping out out town on the wife and kids?  LOL

2. To cover what ? Bills, and for how long? 3,6, 12 mos?

3. Do you have some Credit cards? Have $10k LOC on them? Keep one on the side ( and away from the Wife ) just for emergencies..or even a American Express card. and Invest that " EM" $ . Do you own a home and have a ELOC on it?

4. You can always sell it with in a day , transfer it to a MMkt Account and write cks. Thus stay with Higher Rtn Bonds.. or Even a Balanced Fund? With 0 Loss yrs during the last Bear yrs...to increase your odds..

5. Or just stay were you are now? What's 1-2% down on the total Amt.? A couple of hundred Bucks on $10,000? Big deal..chump change.. what's the Upside? + 6%?

6. Or if your That Worried? Go buy some CD's...and forget the crazy bond markets..If Bill Gross/Pimoc doesn't know where to go, what chance to do we have at being right?

LOL