Seen here:
"The sensitivity of a bond to interest rate increases is determined by the time to maturity, not its credit rating."
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Some of Bob Brinker's followers/critics think his recent move away from all bonds with durations beyond one year was a big mistake.
If there's a bond run, which becomes more likely when bonds are overvalued, which they arguably are, selling becomes more difficult than people realize. Steep losses would be almost certain, but it is also likely that the ultra short duration bonds would recover much more quickly, and perhaps not just because they are ultra short. People might actually plow into them as they did with bonds in general in the wake of the financial panic of 2008, boosting prices.
