The duration deliberation - to extend or not to extend?

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The outlook for fixed income is positive; yields across the board look to be enticing and with central banks hinting at rate cuts, we think bond investors can be optimistic about the potential for attractive returns from the asset class. However, with yield curves still inverted, in our view the normal playbook of extending duration at this stage in the cycle is different this time around. Yields on shorter dated bonds are still currently higher than those with longer maturities in large parts of the market, meaning there is often no additional yield on offer for taking additional capital risk in longer dated credit. 

On ​​​​​our latest webinar, "The duration deliberation - to extend or not to extend?", Chris Bowie (Partner, Portfolio Management) provided a macro update on fixed income markets and how these views are reflected in the positioning of our short-dated funds.





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