As of 1/31, the world government bond index yields 1.15% to maturity and has an effective duration of 7.7
https://www.yieldbook.com/x/ixFactSheet/factsheet_monthly_wgbi.pdfThe Vanguard Total International Bond Index has a yield to maturity of 0.8% and a duration of 7.8 (as of 12/31/2016). This fund "employs currency hedging strategies to protect against uncertainty in future exchange rates, so investment returns are expected to reflect the underlying performance of international bonds". So what that says is you probably won't make or lose much money on currency. Let's assume there's no credit risk. So you get a net yield of 0.8% to take on 7.7 of duration upside / downside<--I would venture it's mostly downside.
https://personal.vanguard.com/us/funds/snapshot?FundId=0511&FundIntExt=INT#tab=2So I would respond to your question by asking, why do you want to take on interest rate (and possibly currency risk) by lending money to global governments and/or corporates for 7-10 years to make 0.8% to 1.2%?
There are some assets not worth owning. When you invest in global bonds, you are investing alongside non-returns oriented investors like central bankers buying zero yielding European corporates or Mrs. Watanabe buying
negative yielding JGB's or banks forced by their regulators to hold home country sovereign debt.
On a hold to maturity basis, the reward is you make about 1%, the risk is if rates went up by 2% globally you would lose ~12-15%. That's a shitty risk reward. If rates go from 1% to 0% you can make some capital appreciation, but you'll own a bond yielding 0%. Rates can go (and are) negative in some places, but that's an extreme outcome.
I might suggest CD's, I-bonds, a 5 yr U.S. treasury (1.9%), cash, high yield savings account, or almost anything really as a better option.