Bonds and bond funds haverepaid their investors handsomelyover the past 3 years (6% averageannual return), while the bears wereeating up the stock market. Thatmay be about to change, say manymarket mavens. With interest ratesat their lowest level in over 40 years,the Federal Reserve has little roomfor further cuts and if rates go up,US Treasury securities may be infor a fall, along with the bond fundsthat are primarily invested in them.A better strategy for high-incomeinvestors may be municipal bonds,which offer a tax-exempt featurethat pumps up the yield for taxpayersin the upper brackets. Look into corporatebonds, which often do well whenthe economy turns north. To maximizereturns, look for muni- andcorporate-bond funds with goodlong-term track records and lowexpense ratios.