Milburn takes a short term long duration bet

Aegon's Phil Milburn is currently taking a slightly longer duration bet on his Extra Income portfoli...

Aegon's Phil Milburn is currently taking a slightly longer duration bet on his Extra Income portfolio to stave off macroeconomic risk. "Having had several pieces of economic bad news, we are taking a short-term long duration bet at the moment," he says. "The housing market is slowing, investor confidence is down a little, retail spending is down a lot and fiscal stimulation is dropping year after year." In light of this and the subsequent potential for interest rate rises, Milburn says tactics dictate taking a slightly longer position than average in order to outperform. With most of t...