Retirement Weekly: Bonds or bond funds—which is better?

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Which is better to own in a rising-rate environment: Bond mutual funds, or individual bonds?

Retirees and soon-to-be retirees have been asking this perennial question with increasing frequency in recent months. That’s because they think there is a near certainty that interest rates will be higher in five or 10 years’ time. If they’re right, of course, bonds purchased today will fall in price.