The UK gilt market rallied in the run-up to the Budget and while Osborne was giving his speech, but this initial growth spurt now seems to have moderated.
PIMCO's Mike Amey is orientating his fund towards shorter-dated bonds and cash in the view they provide better reward for the risks associated with the UK economy.
Swip's head of multi-manager Mark Harries has moved his portfolios towards absolute return bond funds as investors become jittery on some parts of the fixed income market.
Alliance Trust's Rod Davidson has launched his new Monthly Income Bond fund with the credit allocation in defensive names.
Ignis head of credit portfolio management Chris Bowie is using the strong rebound in risk appetite today to accelerate the group's de-risking in credit markets.