Should I sell my bond portfolio?

[Quidnon?]

I would make a poll, if I knew how to do that.  I'm not one to sell things that I have bought, as I'm more of a buy & hold person, not a trader.  However, the current state of the bond market is starting to  concern me.  I'd like to know the thoughts on this matter from the deep players on this forum.  Should I sell my bonds?  All of which are government bonds, no corporate.

[Silverado]

What does your IPS say?

I looked at one of our accounts and loved seeing the reinvested dividends buying in at lower prices earlier this year. That is going to look good in the future.

[Derrian]

 For each of your investments in your asset allocation you should have a reason for both why they are there and the amount that they are in. I find that my IPS has been a great tool when thinking about making changes in response to recent events. If you don't have one, I suggest you spend some time making one before tinkering with your portfolio.

[tsukuba]

OAKGX, a balanced fund that has done well for me over the years has put around half their usual US gov't bond holdings into cash.  Risk/return for bonds at this point a concern.  OAKGX not a tax-friendly fund though, good for non taxed accounts only.
https://finance.yahoo.com/q/hl?bypass=true&s=OAKBX%20Holdings&ltr=1

[erutio]

OAKGX, a balanced fund that has done well for me over the years has put around half their usual US gov't bond holdings into cash.  Risk/return for bonds at this point a concern.  OAKGX not a tax-friendly fund though, good for non taxed accounts only.
https://finance.yahoo.com/q/hl?bypass=true&s=OAKBX%20Holdings&ltr=1

What are the reasons you hold that fund?

[Quidnon?]

What does your IPS say?

I'm afraid I don't know what that is.

[frugalecon]

What does your IPS say?

I'm afraid I don't know what that is.

IPS = Investment Policy Statement. Lots of information about this over at Bogleheads.

[tsukuba]

OAKGX, a balanced fund that has done well for me over the years has put around half their usual US gov't bond holdings into cash.  Risk/return for bonds at this point a concern.  OAKGX not a tax-friendly fund though, good for non taxed accounts only.
https://finance.yahoo.com/q/hl?bypass=true&s=OAKBX%20Holdings&ltr=1

What are the reasons you hold that fund?

It rode out the 2000-2003 downturn in the market extremely well due to its value orientation, like the downturn didn't even exist.  I mostly sold out of this position last year however.  To the point of the OP, I wasn't looking for the US Gov't bond exposure, as one reason.