I've finally (I think) got my head around the advantages/risks of bonds vs cash and am thinking about chucking a load of money into a couple of funds.

As far as I understand, with bonds you have the interest paid plus the value of the bond itself. If IRs go down then the bonds rate will seem more attractive -> supply/demand -> price of bond goes up (but relative yield goes down).

Anyway, with the likelehood of recession, I'd guess IRs will go down in the medium term. I guess the catch is that (corporate) bonds can be defaulted on. However, this seems like a very small percentage historically.

So, is there anyone who has any experience of bonds who can make some suggestions.
My feelings are bonds are fairly good value at the moment, but it might be worth waiting a little longer to shake out a few more dodgy ratings