Couple of new bits of info that I’ve come across lately:
Buffet divests half his holdings in municipal bond insurance (in anticipation of more city bankruptcies).
Check your 401k for a “cash option”. If it doesn’t have one, chances are the “safest” offering will be heavy in gov’t treasury bonds, a backdoor nationalizing of your 401k.
In that case, I won’t pick the “safe” option. No point in investing in overrated junk bonds.