Bonds can only be considered "high yield" if they actually pay a high yield, otherwise they're worthless junk.
The only people who get rich on junk bonds are the crooks who sell them.
The Fed will HAVE to raise rates eventually. LTBs are already rising on their own.
I much prefer carefully chosen corporate and emerging markets debt to US treasuries.
A carefully selected assortment high yield bonds as part of a diversified portfolio can be a very good way to earn substantial income in that portfolio.