The Globe and Mail reports in its Saturday, Dec. 6, edition that if interest rates increase in 2015 or 2016, some interest-sensitive sectors, like pipelines (Enbridge and TransCanada), power producers (Northland Power), utilities (Canadian Utilities) and real estate investment trusts (Canadian Apartment Properties Real Estate Investment Trust), will likely get hit if bond yields rise. The Globe's John Heinzl writes in the Investor Clinic column that trying to time the market, however, by selling these stocks before they drop and buying them back before they rebound is a mug's game. Mr. Heinzl says he is not selling. Mr. Heinzl plans to hold on and collect the dividends, which should continue growing regardless of what happens with rates. He advises keeping in mind that bond yields have risen several times in recent years, only to fall back. That said, Mr. Heinzl says it is always prudent to diversify by owning less interest-sensitive securities as well. He says rising rates can signal economic strength, so growth-oriented companies might even benefit in a rising rate environment. Mr. Heinzl says diversification will provide some protection no matter which direction rates go.