Duration Management / Return Strategies M O R G A N S T …

M O R G A N S T A N L E Y R E S E A R C H 4 Duration Management / Return Strategies March 21, 2012 Challenges Faced by Investors •Ultra low interest rates – Compensated very little for taking on duration risk. – Makes taking duration risk much less attractive than other forms of fixed-income risk. – Dearth of spread products makes diversification difficult.

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