India's bond market is witnessing a resurgence as the benchmark 10-year bond yield crosses 7%, driven by inflation concerns linked to rising crude oil prices and elevated government borrowing. Amidst this volatility, high net worth individuals (HNIs) and ultra HNIs are not retreating from equity positions but are instead reallocating funds into fixed income assets to stabilize their portfolios. Experts suggest a shift towards shorter-duration instruments, which are perceived as safer due to their reduced sensitivity to interest rate changes. Short-term bonds (1-3 years) are particularly appealing, offering higher yields amid liquidity pressures and inflation concerns. HNIs are also exploring high-yield bonds, which can provide returns of 10-13% per annum, and private credit options, which are emerging as a significant investment avenue. Wealth managers advocate for a 'barbell strategy,' balancing low-risk government securities with higher-risk, higher-return opportunities. Overall, investors are advised to expect returns primarily from interest income rather than price gains, with projections suggesting yields around 9-10% in the high-yield segment over the next two to three years.