Given the portfolio, holder has high-income level of 1 million dollars. Is the large allocation to taxable bonds in a taxable account appropriate? If not, how could it be corrected to be a more efficient bond allocation?

Taxable Investment Accounts Preferred Stock 13% Cash 8% Tax-Exempt Investment Grade 2% Domestic Large Cap Taxable High Yield 3% Stocks 41% 50% Bonds 28% Taxable Investment Grade 23% Developed International 8% Emerging Markets 296