Concerns have been rumbling for some time that bonds – whether issued by companies or governments – are due for a sharp crash.
At the start of 2014 many wrote off bonds and said that private investors should sell their bond funds and move into shares or other assets.
But those who ignored this advice and kept their bonds investments have done well over the past year.
In fact, as a whole, bonds have beaten equities so far in 2014.
So what does 2015 hold? Again, opinion is divided.