NEW YORK ( TheStreet) -- Given low interest rates -- the 10-year Treasury is yielding only 1.6% -- it is remarkable that there are nearly 500 companies with markets values over $500 million that yield more than 3.2%.It is a foregone conclusion, in my view, that rates will rise substantially in the coming years. It's just a matter of when. When that happens, bond owners will see the value of their holdings drop; the longer the term, and lower the coupon, the greater the damage. That is simple bond math, and it is the reason many pundits are advising that the duration of bond portfolios be shortened.
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