While some experts say the recent quarter-point Federal Reserve interest rate hike is a sign of even higher rates to come, investors may want to put aside those rate hike predictions and "market noise," according to one financial professional. 

A recent Raymond James weekly bond market article by Doug Drabik, a trader in the Fixed Income Department of Raymond James & Associates, conceded interest rates are inching up, but points out that it's at a modest pace.

"Income and cash flow don’t change with interest rates allowing an investor to ignore market noise and predictions," Drabik wrote in the Raymond James article. "The current buzz has been about cash management. With the net uptick in interest rates, investors need to take notice."

Drabik points to the recently released Fixed Income Quarterly, which has an entire section on "tactical cash management."

"Sidelined cash can be portioned to short duration individual bonds meeting most conservative risk parameters while significantly increasing income earned," he wrote. "In addition, rates have moved enough that short-to-intermediate yields will outperform most dividend paying stocks with a far better risk profile protecting principal," Drabik wrote in the article. 

Drabik wrote that the bottom line is there are options allowing an investor approximately 120-150 basis points in additional yield vs. typical money market rates.