Even firms such as Fidelity have dropped their bids to no bid on many bonds. Today I spent a couple of hours selling out of 2 bonds, IBM and Archer Daniels.I bought them in the 2009 fiasco and wanted to preserve profits. They were both down about 6 % from where they were a few weeks ago. It took a couple of hours just to get a bid. I had a 3rd bond I wanted to sell and Fidelity would not put up a bid all day!!!! Since a firm sells bonds, the SEC should force them to at least put up a reasonable bid.
This must be a fund that you inherited. Rule 1 is, Never,ever buy a fund that has a load, esp. an income fund. It will go up-down on the interest rate 'game.' As I look at the chart, the pattern is like any other income fund over the past month. As of the present environment, good yields are just about meaningless . There are many pfrd stocks yielding 7 % + selling below par ( 25.00 ) and these are quality issues. What we need are a few weak economic reports to bring at least a temporary end to the rise in rates. Good luck, Steve.