If you have the ability to move your 401k or retirement savings may I suggest moving to a bond fund.
EVERYONE in a 401(k) plan has the ability to move assets around at no cost. Depending on the particular plan, one can make as few as 6 trades or exchanges per year and some allow as many as 4 a month. Trading or exchanging funds in excess of the limits of the plan simply carry trading fees and those vary by plan and plan provider.
Get your money out of the risky high yield funds because in my opinion they will take a big hit tomorrow and in the near future.
"High Yield Funds" are basically bond funds, so you are contradicting yourself.
Bond funds have lower yields but are much safer in times like we have coming.
Bollocks. There are many, MANY different types of bond funds, from Muni's to Treasury to high yield corporate to AAA corporate to foreign bond funds. Not all bond funds are created equal and each has a specific purpose in mind and particular types of bonds the manager will purchase. Also, most 401(k) plans have a limited number of available choices, be they equity funds, money market or bond funds, so it depends on the plan as to whether or not there would be more than perhaps 3 or 4 bond funds to choose from.
Just my two cents.
You really should re-think the value here.