Who calls an electrician to do their plumbing? "Beware the bondcano", "short of the century", "beware the bond market bubble": several of the notable headlines seen in the last few months. Mostly quoting misguided equity investors who have never sold or managed a bond in their lifetimes. For what bond investors think of current markets, see the monthly note from Jamieson Coote Bonds (JCB) below. It’s important to note that JCB do not advocate 100 cents in the dollar allocation to bonds, but zero is like playing Russian roulette with 6 bullets in the chamber. High quality bonds have an enduring role to play in well diversified portfolios over extended periods.