If you get 6% and there’s even a 1% chance you’ll lose your shirt - then it’s a bum deal…
There are far safer bonds out there with around 1% chance of default - that’ll be paying quite a bit more than 10% these days if you shop around.
Take a look at US Muni Bonds for example, where you can lend money to a city that’s short of cash, but it’s chances of avoiding defaulting are in direct proportion to how much outgoing blue it has in it.
Avoid cities like Austin, San Francisco, Portland, Seattle, and NYC - whilst tilting towards those currently “Blue” cities most likely to flip red at the next election, such as Las Vegas, Richmond, Phoenix, Spokane, and even San Diego…
If you decide to take a risk - then load up with as much upside potential as possible, not nail your money down for years at sub-10% rates when you could lose the lot at any point, usually without warning…
I wouldn’t be touching any Europaper at all as it stands, but if you think Sunak is doing a good job - you might like to punt him by loading up with the currently much-cheaper Long Gilts that may have well turned the corner, or at least they will when the BoE stops hiking the interest rate!
“Buy low sell high” - we all know this, but so few of us actually practice it.