To be honest, the 1% extra is probably only yielding me around $500/yr, but I have learned a lot more about fixed income over the last year than I've learned while rates were low.

I've never been in the position to have to decide when/if to extend the duration of my bonds, hence the original question. My gut is saying that sometime this year I should extend to around 2 years duration and that by next year rates might start going down. But of course I don't know nothing!