Italian translation: l’accresciuta polarizzazione...
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15:31 Feb 9, 2009
English to Italian translations [PRO] Bus/Financial - Finance (general) / panoramica dei mercati
English term or phrase:steepening bias
With very much negative macro data priced into bond markets for the moment, the long duration position had been neutralized at the beginning of the year. Therefore, the correction in yields had no negative impact at least on relative performance. The steepening bias between two and ten year yields had a slight positive impact. On spread positions, the fund suffered from the tightening of credit spreads due to its long held defensive stance