With inflation at 8-9% an having to pay taxes on the interest, no NOT cool.
On a relative basis to an asset returning 0% or declining in value, yes good.
On an absolute basis, no not good.
People are getting delusional in these bond threads (even to the point where everything is becoming bond threads).
The bond-uber-alles folks: "I'm so stoked, I am getting 5% on this corporate bond!". In the meantime, food inflation is up 18%, inflation is spreading quickly into services, and economic conditions are deteriorating (thus increasing issuer risk).
The truth is that you are betting that inflation comes down, and quickly enough that your 5% bond doesn't have a negative real return over its lifespan.
Me? I'm there with you, in the sense that I've put a good chunk of change into short term T-Bills, figuring that -5% is better than -9%. But I'm not excited about it, or crowing that it is a good LONG term strategy. Because it is not.
Give me 3.5% real return yields (e.g. TIPS at 3.5% real), and I will be putting big $ (for me) into that.