One place to look in a weak market is for stocks or funds that pay strong dividends. The chart below shows PIMCO's Corporate Opportunity Fund. This fund holds various corporate bonds, but does also hold some mortgage related instruments. It also holds various amounts of foreign currencies. Its market price yield is currently around 10.2 percent.
PTY - PIMCO's Corporate Opportunity Fund
PIMCO Corporate Opportunity Fund (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to seek maximum total return through a combination of current income and capital appreciation in a diversified portfolio of United States dollar-denominated corporate debt obligations of varying maturities and other income producing securities. The Fund will normally focus on corporate debt obligations rated in the lowest investment-grade category (Baa or BBB) and in the highest non-investment-grade category (Ba or BB). Its portfolio includes corporate bonds and notes, the United States Government agency securities, sovereign debt obligations, municipal bonds, mortgage-backed securities, asset-backed securities and short-term investments. It also invests in residual interest municipal bonds and residual interest tax exempt bonds (inverse floaters). The Fund's investment manager is Allianz Global Investors Fund Management LLC.
This is a link to the corporate page, which also covers the other types of funds they offer. This is not a place to over allocate assets, but it is an area that can provide some income and safety in a declining and volatile market.