Bond stars scrap shorts on US treasuries as yields plunge

Stewart Cowley of Neptune
Stewart Cowley, Old Mutual

Old Mutual Asset Management (OMAM) and Legal & General Investment Management have reversed their short duration stances in certain portfolios, removing their US Treasury short positions as the flight to safety pushes yields on the goverment securities to record lows. OMAM's asset manager Stewart Cowley, who began shorting the US treasury market at the start of the year, has now moved long duration on G5 government bonds, as he shifts his £513 million Global Strategic Bond fund to mo